Renters Insurance in Mississippi or Tennessee
When renting in Mississippi or Tennessee, you still want to make sure that your personal belongings are covered in the event of a storm or theft. Renter’s insurance is not legally required in the state of Mississippi or Tennessee, although many landlords will require you to have some basic coverage before they lease you the home or apartment. In order to protect yourself, as well as your personal property, it is a good idea to speak with an agent at Tackett Insurance, Inc. in Oxford, MS about a renters insurance policy.
Mississippi or Tennessee Renter's Insurance
In Mississippi or Tennessee, many people choose to forego renter’s insurance since their landlord already has insurance for the building and they assume they will be protected. However, many landlords just have policies that protect the building and not personal possessions.
When choosing a renter’s insurance policy, be mindful of what it includes. You may need to discuss different riders with your insurance agent about jewelry or collectibles. You will want to consider if your policy covers additional living expenses if you are forced to move out of your rented space while repairs are being made. There are some things that renter’s insurance will not cover, such as if floods, earthquakes or sewage backup cause the damages.
Submitting a Claim
If you need to submit a claim, know the difference between replacement costs versus actual cost value. If the policy pays actual cost value, then you will receive money for the item based on what it is worth at that time. Replacement cost coverage should be enough to replace the item that is damaged by a similar one.
Liability coverage will often come standard with your renter’s insurance policy. This is useful if someone has an accident in your home, such as a slip and fall. This will provide you protection against legal claims you may have to pay. There is a limit on the amount of liability coverage you can have though. You should also be covered if there is unintentional damage to the landlord’s property based on something you caused, like a kitchen fire.
Contact an agent at Tackett Insurance, Inc. in Oxford, MS to inquire about a renter’s insurance policy. We can help get you a quote and get you started on the insurance process. Reach out to our offices for questions.
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