ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -If you’re in a rush, feel free to check out our brief summary below. Your renters insurance will cover most of your stuff for theft both inside and outside your home, including electronic items, furniture, clothing, and jewelry. Theft coverage applies, among others, to your bicycle, stolen laundry and cash up to $200.

Detailed explanation-2: -Renters insurance does not cover major weather events like earthquakes, landslides, sinkholes and floods. The policy also will not cover pest infestations (including bed bugs) or coverage for your roommate’s possessions if they aren’t a named insured on the policy.

Detailed explanation-3: -Accidental damage done by tenants is covered by most property policies. Unfortunately, both common and preventable, an accidental kitchen fire caused by inattentive cooking would generally be covered, for example.

Detailed explanation-4: -Your liability coverage on your renters policy will help pay that price. One thing to note is that theft from a roommate-whether they’re on the policy or not-is not covered by a renters policy. That includes other intentional damage as well-so make sure you choose your apartment buddy wisely!