Insuring the house: Points to ponder before moving in

Both tenants and new homeowners make lasting investments for themselves when they choose to sign the papers to their new home. Be it theirs by deed or given by lease, the home is an important part of any person’s life, and steps must be taken to secure it in the event of unforeseen circumstances. Regardless of whether the home is rented or owned, it is a person’s personal castle and must be safeguarded at all costs.

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Two markedly different types of insurance exist for both the tenant and the homeowner, each with its own benefits to the occupiers of the home and their possessions.

Renter’s insurance is used to protect the tenant’s possessions. This is useful in the event of fires, break-ins, and other unforeseen events, which are usually not the responsibility of the landlord, whose main concern is the building. Having renter’s insurance enables the tenant to protect and recover from such events, which can be just as damaging as those that take place in a home.

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Home insurance is a must for any homeowner, particularly new ones. The home is a particularly large investment—the largest most people would ever make in their lifetime. Unlike the tenant, the homeowner is fully in charge of both the building and the possessions inside it, and must take the necessary actions to protect it from damage. Home insurance allows homeowners to recover quickly from unforeseen events without compromising the integrity of their homes.

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Freeway Insurance’s website offers more information on insurance coverage for renters and homeowners.

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.