The renters insurance policy for your apartment, condo, or home in Centennial, CO, does more than protect your belongings inside your unit. These policies also come with protection from various losses outside your unit. Atrium Insurance Group can help you understand this often overlooked benefit.

Understanding Off-Premises Personal Property Protection

Your policy’s personal property component extends to incidents like theft, fire, and vandalism when you are out running errands or traveling. For example, if someone breaks into your vehicle and steals a laptop, clothes, or other personal items, your renters insurance covers the loss, not auto insurance. Off-premises coverage also applies when your items are lost, damaged, or stolen during daily tasks when you are out and about. Other scenarios include items stolen from a storage unit, damaged items during moving procedures, or luggage lost when you are traveling.

Personal Liability Coverage

Just as your policy covers accidental damage to someone’s property or when you inadvertently injure someone, the same rules apply when these incidents happen outside your home. In addition to providing financial coverage if you damage property that’s not your own, this provision also pays for legal expenses if someone sues you. It can also help pay for medical bills when you accidentally injure someone.

However, you should examine your policy to determine if off-premises personal property and liability coverage have lower limits. Keep in mind that no matter the incident, your deductible will apply. You’ll also most likely experience a cap on compensation for high-value items, unless you add a rider to your policy. If you are found negligent, your policy won’t protect you.

Learn more about the hidden benefits that you may not expect from your renters insurance. Contact the experts at Atrium Insurance Group, serving Centennial, CO, to get started on a full-coverage policy.