A landlord may have insurance that protects the physical building and contents of a rented property in which a tenant resides, but this insurance will not cover a tenant's personal property or his contents.
In other words, a landlord's content insurance covers items owned by him and are used by the tenants.
Tenants can protect their own items in a rental property with the help of an insurance policy known as renter's or tenant insurance.
The best way to safeguard his items or assets is to prepare a list with all the assets that you think should be insured.
This would include your expensive jewelry, electronics items, furniture, watches, expensive paintings, clothes and any other valuable items.
Tenant insurance company covers only those items that are mentioned in the list.
So, take care to include all those items that you want to safeguard.
Before deciding to purchase a policy, consider how much would it cost to replace your belongings if they were damaged or stolen? Check out the amount you need to pay every month to an insurance provider if it is insured.
Is it practical? Can you afford to replace your stolen item in the absence of an insurance? If no, it is better to consider tenant's insurance to safeguard your priced possession at a rental unit.
Many tenant insurance companies will give you a discount if you have security devices installed on the rental property.
Always, compare various insurance quotes to get the best one in the insurance market.