What type of coverage do you need?

Orlando, FL - Much has been said regarding the housing preferences of
millennials. Compared to previous generations, millennials have a greater likelihood of remaining single in their marital status and typically defer marriage and parenthood, which in turn affects their housing decisions putting them in the front line of the house (or apartment) rental market. This is mostly associated to a possible inability to qualify for home ownership in their early adulthood. Many factors may contribute to this such as:

  • Student loan debt
  • Increased mobility
  • Starting families later

In Lake Nona, for example, we could think of students of UCF School of Medicine and the University of Florida College of Pharmacy who may have temporary housing needs until their career path is fully established.

But millennials are not alone. People from all generations may also find a benefit in renting the property they live in, even if it’s only temporary. 

Among multiple other possible reasons, getting a great new job which requires relocation may put you in a crossroads, where you need to decide whether you sell and buy in a completely unknown market, or you may opt for renting your current property and rent another place for yourself until you are certain that your moves are being assertive.

This is where your renters insurance comes into play.


If you rent an apartment or house you need insurance to protect your belongings. While your landlord might have insurance, it only protects the building. Your belongings are not covered under those policies. 

In the above mentioned case of relocation, the homeowners that are renting their property should require their new tenants an active renters policy, while they should get their own renters insurance for the unit they will end up renting in their new location.

Renters insurance covers your possessions against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm, and water damage from plumbing.

In the other hand, renters insurance does not cover floods, earthquakes or routine wear and tear. You may find additional relief when you complement your coverage with separate policies for flood and earthquake damage.

One of the greatest benefits of a renters insurance policy is that you decide how much insurance you need. That means you only pay for what you are going to use. You determine the cost of everything you would want to replace if it were damaged or stolen. This could also serve as the basis for an inventory that will make filing a claim easier. 

A few other benefits come in handy with your renters policy. Just like a homeowners policy, if you are forced out of your home because of a disaster your additional living expenses will be covered. 

Renters insurance pays the reasonable additional costs of temporarily living away from your home if you can't live in it due to a fire, severe storm or other insured disaster. It covers hotel bills, temporary rentals, restaurant meals and other living expenses incurred while your home is being rebuilt. Coverage for additional living expenses differs from company to company. Give us a call for detailed information regarding this type of insurance and help you determine which policy better suits your current needs.

One more thing …

Renters insurance also covers your responsibility to other people injured at your home or elsewhere by you, a family member or your pet and pays legal defense costs if you are taken to court. This could very well improve your chances for a better sleep.  However, we wish you the best of luck and that you never have to deal with this type of distress.


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