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Homeowners’ Versus Renters’ Insurance

Glen Rock home insurance does more than just protect your home against damage. It can also protect the items in your home. If you don’t own a home, you can get some of the benefits of homeowners’ insurance with renters’ insurance. There are some obvious and some not so obvious differences between these two policy types.

Although house insurance, covers the building and the contents, it’s the main purpose is to insure against disasters to the structure of your home. Rates may be based on the quality and size of your home. On the other hand, renters’ insurance is mainly meant to cover and replace your belongings. Because you are not insuring the building, rates are typically lower.

Homeowners’ insurance is usually mandatory. The loss of a home can possibly affect an entire community. An empty lot could bring down the value of surrounding homes. These policies not only protect you as the homeowner but also your neighbors who live in the neighborhood.

With regards to what a policy covers, make sure you have a plan that fits your lifestyle. If you have renters’ insurance but own many valuable assets, make sure your plan doesn’t have a limit that is too low. Because homeowners’ insurance is mainly aimed at protecting your home and property, it may have lower limits for loss of actual items stored inside your house.

Glen Rock home insurance and renters’ insurance can save you in the case of an unfortunate disaster. It is worth the investment.