What is Renters Insurance? | Allstate Insurance

I’m Jose Fernandez, and I’m an Allstate agency owner with an office in Chicago's Irving Park neighborhood Today I'm talking about renters insurance, which usually provides three main types of coverage: Personal property coverage for your belongings Additional living expenses that you may have after a covered loss, or Liability protection, in case you are found legally responsible for injuries to someone else or damage to their property I can think of one example when liability coverage helped a mother living in an apartment building with her son

One day she was bathing him when she realized they were running late for school She rushed to get him there on time, but she forgot to shut off the faucet in the bathtub An hour and a half later, she got a call from the building manager saying there was water pouring into the apartment below hers In her apartment, the water caused $5,000 in damage to the bathroom floor and drywall The apartment below was worse — the walls and the drywall were damaged, and the cost to repair them was another $20,000

This customer called me to ask what she needed to do to resolve this I was able to give her good news Her renters insurance policy included enough liability coverage to pay for the repairs to her apartment and the apartment below If she didn’t have liability coverage through her renters insurance, she likely would have had to pay out of pocket for the damages