Understanding the Importance of Your Orlando Renters Insurance for Ultimate Security

Did you know that most tenants don’t get renters insurance? This is a big mistake! If you rent, understanding the importance of your Orlando renters insurance could help save you thousands of dollars in the event of an emergency.

Owner’s Insurance

Many tenants mistakenly believe that the owner’s insurance will pay to replace their belongings. However, the owner’s insurance only covers the actual structure and grounds (and maybe some of the appliances they provide). 

If there’s a fire, flood, or other damage at their rental home, the owner is not responsible for replacing any of your possessions. Don’t assume your landlord’s got your back just because they have landlord’s insurance to cover their own butt. Landlord insurance and renters insurance cover different things.

Low Cost of Orlando Renters Insurance

Many people think they don’t need renters insurance because they could basically replace everything they own for a few thousand dollars. They see the extra cost as throwing away money better spent on something else (pizza, anyone?).

But your stuff is worth way more than you think… even if you thrift shop for most of your furniture. Add up a few big ticket items and see. We’ll wait. Should disaster strike, do you really want to pay out of pocket to replace all that on your own?

For only about $15-30/month, you can ensure if there’s a fire, flood, or other damage at the property, your belongings are covered. That fee can even be bundled with your auto insurance. Seems like a small price to pay to cover your stuff when the -ish hits the fan. 

Benefits of Renters Insurance

No one likes to think about facing some type of emergency, but renters insurance helps soften the blow. Renters insurance for Central Florida covers a variety of potential calamities from lightning strikes and flooding to vandalism or theft. 

In addition to helping repair or replace belongings, if a rental home is deemed unlivable, renters insurance can help pay for temporary living expenses. 

Renters insurance can also help with personal liability coverage and medical expenses (under $5,000) if someone gets injured in the rental home. This offers an additional level of protection for the owner or landlord as well. 

Plus renters insurance can also cover issues while you’re out and about (aka the stolen laptop at the cafe emergency).

Resident Benefits Package

Did you know our Resident Benefits Package, a mandatory $30 tenant fee each month, includes renters insurance? The Resident Benefits Package also includes a utilities concierge, resident awards, home buying assistance, and credit building. 

Some tenants choose to buy additional renters insurance over and above that offered in the Resident Benefits Package. While that’s certainly a personal preference, we’re all for making sure your stuff is covered to a level where you feel comfortable. 

Over the years, we’ve unfortunately had a few incidents where tenants have had to use the renters insurance we provide through the package. However, they were glad it was there to help them during a difficult situation.

Most people don’t give much thought to renters insurance. But not you, you’re armed with knowledge to understand why it’s important. If you rent through The Realty Medics, we’ve already got you covered.