Have you rented an apartment, condo or single-family home in Las Vegas, NV, and is now uninhabitable due to a mishap? While you understand that renters’ insurance will cover damaged items you own, you might wonder whether your policy will cover temporary living quarters during your home’s repairs. Modern Choice Insurance can help clarify what you can do if you need to move temporarily.

Loss of Use Coverage

Most renter’s insurance policies incorporate a provision termed loss of use coverage. The damage must result from a covered peril such as a tornado, fire, water damage, and so on. If you inflict damage rendering your unit uninhabitable, you will likely have to cover additional living expenses. Like other insurance components, the policy will only cover up to the policy limit.

What Does Temporary Housing Cover?

Renters may encounter additional costs that are uncommon during regular residence periods. These include:

• Food exceeds what you would typically spend on groceries without kitchen access.
• Laundry expenses if an in-unit washer and dryer aren’t available.
• Storage, if you have to store personal belongings in a storage unit.
• Parking fees, should you need to pay for parking at your temporary location.

Your temporary housing should resemble the uninhabitable unit. Review your policy to ascertain whether it will offset rental costs beyond your usual amount. Your insurance company will most often reimburse you for expenses, making it crucial to keep thorough records of your expenditures.

For more information on how temporary housing operates under a renter’s insurance policy, contact the experts at Modern Choice Insurance, serving Las Vegas, NV. We can help you start your policy.

Being a landlord is challenging enough, and when a tenant is reluctant to get renters insurance to protect themselves, approaching them may seem daunting. Renters should understand that landlords aren’t responsible for replacing their possessions, and you may already require them to carry it within their lease. Our team at Modern Choice Insurance in Las Vegas, NV offers some ways to have this talk with renters.

Explain the Value and Necessity of Having Renters Insurance

Many tenants are worried about the added expense of having one more bill to pay. They want to know if renters insurance is worth the cost. The low cost of a policy is just pennies per day, making it low enough that renters shouldn’t be strapped for cash due to having coverage. Besides, what price can be put on protecting their worldly possessions and offering greater peace of mind?

Discuss Some of What is Covered Under These Policies

Let them know the basics of coverage, which predominately covers renters against the need to pay for property and personal possessions should a worst-case scenario come to fruition. These include natural disasters, such as fire, lightning, water damage, and wind. Policyholders are also shielded from theft and vandalism of their personal goods. Some providers offer additional options for:

• Optional pet damage coverage
• Optional sewer and water coverage
• Full replacement cost for personal property
• Guaranteed premiums

Deliver a Convincing Speech on Renters Insurance

Consider having a discussion with potential tenants when they put in an application especially those who’ve put in a deposit and/or signed the lease. Make a pitch to them showing the benefits of personal coverage for their items inside the unit and the low cost of renters’ policies.

Guide Your Tenants to Our Insurance Company

Your residents can easily secure renters insurance policies here at Modern Choice Insurance in Las Vegas, NV, and we serve residents across the entire state. We hope these tips help get your tenant on board with this important coverage.