Indian River VFC offers commentary for consideration…. Renters' Insurance 

With the continual growth and development of new multi-story residential rental communities as well as other rental properties within the Indian River Fire District, the Indian River VFC recommends that you -- or your live-in family member if you have one — keep an active renters insurance policy whenever you rent.

In Delaware, renters’ insurance will replace personal belongings should they be destroyed, lost, or stolen. Most policies will also provide liability coverage, medical payments to others, and will cover temporary housing costs should your home become unihabitable.

Renters' insurance, often called tenants' insurance, is an insurance policy that provides some of the benefits of homeowners' insurance, but does not include coverage for the dwelling, or structure, with the exception of small alterations that a tenant makes to the structure. It provides liability insurance and the tenant's personal property is covered against named perils such as fire, theft, and vandalism. It also pays expenses when the dwelling becomes uninhabitable.

Due to renters' insurance existing mainly to protect against losses to the tenant's personal property and provide them with liability coverage but not to insure the actual dwelling, it is significantly less expensive than a homeowners' insurance policy. The owner of the building is responsible for insuring the dwelling itself but bears no responsibility for the tenant's belongings.

With the increase rental units within our fire district and the recent unfortunate events involving mutli-residential structure fires it bears mentioning the recommendation for all renters’ or tenants to acquire renter’s insurance.

These insurance policies protect the renter’s or tenant’s personal property, provides liability coverage, medical payments to others, and will cover temporary housing costs should your home become uninhabitable.

The intent of this communication is to enhance awareness.