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Get DirectionsWhat Makes Renters Insurance Different From Umbrella Insurance?
With so many types of insurance available, it can be confusing to know which policies provide the right level of protection. This is especially true for renters in Jacksonville, FL who want to understand the difference between renters insurance and umbrella insurance. The team at Skyline Insurance LLC can help explain how each policy works and when having both may be beneficial.
Renters Insurance
Renters’ insurance is designed to protect your personal belongings inside a rental unit. This typically includes items such as furniture, electronics, clothing, and other personal property that are damaged or lost due to covered events, such as fire, theft, or certain types of wind damage.
In addition to personal property protection, renters’ insurance includes liability coverage. This can help pay for medical expenses or property damage if you are found responsible for injuring someone or damaging their property. Liability coverage is subject to policy limits, which may not be sufficient for serious or costly claims.
Umbrella Insurance
Umbrella insurance provides an extra layer of liability protection once the limits of your renters’ insurance and auto insurance policies have been reached. For example, it may help cover additional costs if a visitor is seriously injured in your apartment or if your dog bites someone.
An umbrella policy does not cover personal belongings. Instead, it focuses on liability protection and typically starts at $1 million in coverage, with higher limits available. To purchase an umbrella policy, insurers generally require you to carry both renters insurance and auto insurance that meet minimum liability limits.
Benefits of Having Both Policies
Renters insurance helps protect your personal property, covers certain living expenses if your apartment becomes uninhabitable due to a covered loss, and provides liability coverage up to the policy limit. It may also help with legal defense costs related to covered claims.
Umbrella insurance can help protect your personal assets by extending liability coverage beyond the limits of your renters’ policy. It may also cover certain situations not included in standard renters insurance, such as claims involving slander, libel, or defamation of character.
Contact Skyline Insurance
For renters in Jacksonville, FL who want added liability protection and peace of mind, contact the team at Skyline Insurance LLC. We can help you determine whether an umbrella policy is a smart addition to your renters insurance coverage.
