Do Most People In Louisiana Rent Their Homes?
As a matter of fact, yes! Cities like New Orleans can be very expensive to buy in. Even in rural areas, many native to Louisiana rent their homes for many different reasons. Renters in Louisiana have one thing in common, though. They all need Louisiana renters insurance! It might seem like not much ever happens in Louisiana, but the risk is still there. Hurricanes in particular are a cause for concern!
Can My Landlord Require Me To Get Renters Insurance In Louisiana?
Of course your landlord can require renters insurance in Louisiana! Your landlord can require you to maintain liability insurance under the lease. Louisiana renters insurance protects both your landlord and you. If you have a fire, your personal property is covered and your liability for the damage to his property – the building – and even your neighbors is covered as well.
Why Do I Need Louisiana Renters Insurance? Doesn’t My Landlord Already Have Insurance?
Of course your landlord has insurance. He has insurance on any improvements and betterment he may have built on that land, such as the structure of your apartment. He does not have, nor could he have, coverage for your personal property. He has no insurable interest in it and no responsibility for it.
Liability coverage on Louisiana renters insurance is important as well. For obvious reasons, your landlord’s liability coverage does not extend to you. So if something happens and you are negligently at fault, it’s on you to make sure you have coverage for that eventuality. Fires and broken pipes are the top two negligence-related liability claims we see, but Louisiana renters insurance liability coverage protects you outside the apartment as well. If you bump into someone on the street and he claims injury to his back, Louisiana renters insurance is there for you in that instance as well.
Do I Need Louisiana Renters Insurance If I Don’t Own Anything?
Of course you need Louisiana renters insurance. You may not have much, but the policy pays to cover a loss at what it would cost to replace the property rather than the actual cash value of it. Because of this, you can replace with like kind and quality. Think of how much all your electronics cost. Then add that to your furniture. Then double that number. You own at least that much in your apartment, and don’t want to replace it out of pocket.