As a Florida tenant, protecting yourself with Florida tenant insurance is only common sense. We all hope to never face a situation in which we need this insurance, but we know that sometimes bad things happen. It is much better to have Renters insurance Florida protection and not need it than to have it and not have it. When a disaster occurs, Florida renter’s personal property coverage can help you replace your furniture, clothing, appliances and other valuables. Your personal liability coverage helps protect you if you or your property accidentally damages someone or damages your property. Did you know that there are also other insurance options?
How much coverage do you need?
Personal property coverage: This total value of everything you own is the amount of personal property coverage you must have. You can get a basic policy that covers your belongings for $20,000 for approximately $200 to $300 per year. It probably has more than $20,000. You can increase your coverage to meet your needs.
Liability coverage: This coverage pays for medical expenses, damages and legal fees when someone is injured on your property and demands it. Most policies offer several options ranging from $100,000 to $ 1,000,000 or more.
Loss of use coverage: When damage to your home causes you to live elsewhere while you repair your home, loss of use coverage covers expenses. This pays things like hotel and restaurant bills. Most policies have a time limit and a monetary limit.
The two big mistakes that most tenants make are that they think their landlord’s insurance will cover them or that they simply don’t have enough “material” to guarantee the payment of the policy.
You can also get coverage to protect yourself from fraud. Your Florida renters insurance policy can cover up to $1,000 in financial losses if someone steals your credit card, bank card or checkbook.
Loss of use coverage
The loss of use clause of the Florida renters insurance policy helps cover your living expenses if your home is damaged to the point of being temporarily expelled. Your Florida renters insurance will pay for your motel room during the period when you are forced to evacuate your home, food costs and other essential expenses, such as doing laundry. Basic loss of use coverage will take care of you for up to two weeks if you need to leave your home while it is being repaired.