Renting and owning: Getting insured when getting a home

Keeping the roof over one’s head insured is one of the ways people can take action to protect their homes, whether it is a rented apartment or a purchased home. Each of these distinct types of home have their own needs in terms of insurance due to the differing set of costs attached to each one. Some insurance providers, from giants like Geico and Allstate and to smaller independent players such as Freeway Insurance, provide both home and renter’s insurance.


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Homes that are owned by the occupants are the full responsibility of the homeowner. These are, naturally, covered by home insurance, which at the minimum should cover any damages caused to the home by robbers, unforeseen events like fires, and natural disasters. Homeowners can seek additional coverage plans for their homes as warranted by the conditions near their homes. For instance, homes located in flood-prone areas should have water damage as part of their coverage.


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A home that is rented from a landlord does not count as someone’s property and is usually not covered by most forms of home insurance. Moreover, the landlord gets insurance aimed at protecting the building, not the tenants, and is not usually held liable for the tenant’s possessions or living expenses in unforeseen events like fires and break-ins. Tenants, whenever possible, should opt to have a clause inserted in their leases to allow renter’s insurance to protect their personal property.

Much needed peace of mind can be gained from making sure that one’s home is insured. Having home or renter’s insurance would help the residents of a house or an apartment bounce back from the ravages of unforeseen events.


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For more information on home and renter’s insurance, go to this website.