Renters insurance serves as a means to protect tenants from unexpected structural damage as well as any loss of personal property. Lincoln Military Housing and Hunt Military Housing do not require residents to obtain renter’s insurance, but strongly recommends that tenants maintain coverage based upon their own assessment of the amount of property and liability coverage needed to protect their interests.
It is critical to have a complete understanding of the differences between types of coverage options offered by your insurance agency. Although each insurance company offers its own unique coverage plans, they primarily focus on two central elements: 1. Liability coverage, and 2. Personal property coverage. For example, a standard policy or having “full coverage” under USAA means having both liability and personal property coverage. To ensure you are covered for any unforeseen circumstances, having both liability and personal property coverage is best.
Liability coverage helps protect your assets and future income. For this coverage, you’ll want to consider your net worth and the value of your assets, as well as your risk of being held liable for injury or damages. For example, you have a dog or live with roommates.
Personal property coverage helps protect your personal belonging (i.e. jewelry, electronics, military gear, etc.), and the amount of coverage you need depends on how much said items are worth.
Below is a sample list of a few companies that offer renters insurance. Please be sure to conduct your own research and reference the specific coverage guidelines that your insurer offers for a full breakdown of what’s covered and what is not.