The most obvious coverage is for the structure itself. If something bad happens to your investment property its value is diminished. That could be a total loss like a fire or tornado leveling the structure. It could also be a partial loss like a burst pipe causing water damage to your wood floors. This is listed as DWELLING coverage on your insurance policy. It’s the most important property coverage.
If the unexpected happens, could you afford to replace your personal belongings on your own? Renters insurance is an affordable way to protect yourself and help replace personal belongings in the of case of theft, fire, or water damage. It may also cover medical expenses for people who don’t live with you, but are injured on your property, as well as legal defense in some cases.
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