You need renters insurance in Temple Hills. There’s no way around it. Your leasing office might let you pay a fee instead of having a policy, but you need it anyway. The alternative to having Temple Hills renters insurance is to get a bill for half a million dollars.
Yes, we said the alternative is receiving a bill for five hundred thousand dollars. Many people don’t know this, but once the building owner’s insurance has paid for the loss, that insurance company is going to proceed against the party who’s responsible for the fire in order to recover that money.
Subrogation is a process where an insurance company who has covered a loss sues the person who caused the loss in an effort to recover the money that was paid. So how does renters insurance factor into this if you live in Temple Hills? It’s simple: Maryland Renters Insurance protects you with liability coverage. That coverage would, of course, pay the loss up to the policy limit, but there’s more to it than that.
The liability coverage on your policy also means that your renters insurance company will pay to defend you against a claim for something the policy would cover. In other words, they pay for a lawyer to defend you against the subrogation suit if you’re the one responsible for the fire. That lawyer can reduce, settle, or otherwise mitigate the suit and potentially make the whole thing go away.
Recently, fifty people were displaced by an apartment fire in the 3400 block of Brinkley Road in Temple Hills. Three alarms were called. The fire started on the uppermost floor of the building and spread quickly. Damages to the building and to contents of residents are estimated at a half million dollars. The companies that insured the residents and the company that insured the building are more than likely going to pursue that half million dollar claim against the person who started the fire, even if it was an accident.
Liability coverage on your renters insurance in Temple Hills pays for damages that you cause from an accidental fire and other negligent losses. It also pays for your lost personal property, as well as loss of use and additional living expenses. Essentially, if you have coverage, you’ll be in the same financial position after the fire that you were before the fire.
This coverage is valuable, but it’s not expensive. The average policy in the area costs about fifteen dollars a month. You can be covered in just three minutes if you call, or one minute online. All you have to do is call (800)892-4308 or click to get covered - whether you need Maryland renters insurance quotes online or coverage anywhere else!
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