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You may think a lot about how to choose proper coverage levels for renters insurance. On one hand, there is your personal property coverage. In this section of your policy, you place a value on your personal items within the property.

But, there’s also your liability coverage. Renters insurance policies come with liability coverage to protect the renter from accidents.

Renters liability coverage offers protection in case there’s a problem that you cause as the property renter.

What Liability Coverage Protects

If you damage the rental property, injure a guest on the property, or damage the property of a neighbor, the liability coverage of your renters insurance can often protect you. Your policy may cover you in a variety of scenarios:

  • If someone gets hurt in your rented space, he or she may request or sue for medical claims or damages. You can use the renters insurance, up to the limit on the policy, to cover the damages.
  • If you damage the property of the landlord, you might need to pay for that. Renters insurance may help you make payments to repair the damages.
  • If you damage a neighbor's property, you might be able to use your renters insurance to cover damages. You may also be able to use this policy in case you damage the property of a co-renter. However, make sure that your policy extends to damages you may cause to a neighbor’s property.

Keep in mind that renters insurance won’t cover liability damages in every scenario. You can’t negligently or intentionally damage property or cause injury. If you cause damage due to negligent actions, your insurance will likely not cover you.

Choosing the Right Renters Liability Level

Determining how much renters liability insurance you need can be tough. Work with your renters insurance agent to determine the level of coverage you need. As a bottom line, you need to make sure you don’t personally lose money in case you face a liability claim.

For that reason, take into account essentially how much you are worth. This is a good way to establish a baseline for how much coverage you need. Consider things like:

  • Your annual income, including savings and investments
  • How much you normally owe for things like credit card payments, car payments and other debts
  • Any financial responsibilities you have to meet

A claim against your renters liability insurance could impact your ability to meet other bills. That’s why you need full coverage to protect all your current assets.

Also be honest with your insurance agent about where you are living, and the local area. The location can help the agent determine liability risks in your local area. That way, you'll get coverage specifically tailored to you.

Get in touch with us to discuss your insurance liability options. Give us a call at 877.997.2478 and we can get you a policy today. Request a fast, free Macon renters insurance quote.

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