renters insurance is intended for those who live in an apartment

When it comes to insurance policies, it’s easy to get confused, especially if two options seem like they’d be interchangeable, such as home insurance and renters insurance. Our team at St. Clair Insurance Brokers Inc. has extensive experience in this field, and we are familiar with the ins and outs of all different types of coverage. In this article, we’ll be going over the important distinctions between these two categories.

  • Home Insurance- Home insurance covers the actual building you live in, as well as the garage or any outbuildings. This type of policy is intended for people who own their residences, rather than rent property from a landlord. A home insurance policy usually covers the cost to replace the entire structure in the event of a total loss, and we at St. Clair Insurance Brokers Inc. usually recommend adding additional coverage to replace the items in your home if necessary.
  • Renters Insurance- In contrast, renters insurance is intended for those who live in an apartment or other property owned by a landlord. This type of policy will cover your personal property and liability, while your landlord will be responsible for insuring the building itself. If you’re not sure how much you should be paying for renters insurance, our team at St. Clair Insurance Brokers Inc. can help you calculate the best total coverage amount and monthly payment for your particular situation. If you have further questions about home or renters insurance, we encourage you to give us a call to consult with one of our experts.