Do renters need homeowners insurance? You need renters insurance with personal property coverage in case something happens to your things, as well as renters insurance with liability coverage in case you damage someone else’s property. So if you live in an apartment, or a rental home then yes you should get renters insurance.Can insurance company cancel homeowners insurance? An insurance company can cancel your homeowners insurance policy for a variety of different reasons. In fact, it is quite common for companies to cancel or refuse to renew policies and it often leaves homeowners shopping around for coverage that is necessary to carry.Is homeowners insurance the same as renters insurance? Homeowners Insurance is usually associated with the owner of the dwelling; whereas Renters Insurance is specifically intended for the non-owner occupant of the dwelling. Renters Insurance is intended to provide Personal Property Coverage and Personal Liability Coverage for the tenant of a home.Does homeowners insurance cover business property? A standard homeowners insurance policy may provide limited coverage for business property that is stored in your home. Not every homeowners insurance policy provides coverage for business property, however, and even if yours does, the coverage limits may not be high enough to protect it.
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