Renters Insurance in Cameroon: How to Get Rental Quotes. What Does Rental Insurance Policy Cover? What is Renters Insurance?
What is Renters Insurance?
Renter’s insurance is a subset of property insurance that proffers protection for a policyholder’s personal belongings in case of a loss. It’s an insurance policy that protects a tenant’s property within a rented apartment.
What Does Rental Insurance Policy Cover?
The policy offers liability coverage in cases of negligence. For example, suppose you leave the tap in your kitchen running and it overflows into a neighbor’s apartment. In that case, you could be liable for that damage and required to foot the repair or medical bills related to the accident. Renter’s insurance provides coverage for such costs.
Loss of Use
The policy also offers coverage in case you have to leave your apartment after an accident. If, for instance, you got burgled and have to make use of a hotel when the safety of your apartment is being restored or assured, the renter’s insurance policy will cover the expenses incurred during this period.
Suggested: Auto or Car Insurance Companies in Cameroon.
Most rental insurance policies protect a tenant’s property in case of accidents such as power surges, fire, burglary, theft, water damage, or other unforeseen events. It is important to note that only certain property types are covered by renter’s insurance. Still, it is possible to have add-ons on your policy to protect items that you consider essential and may be expensive to replace.
How to get Renters Insurance?
After you have found the apartment of your choice, before opting for renter’s insurance, here are four things to look out for in a company before getting your renter’s insurance policy.
It is preferable to go with established companies over startup insurance companies. Established companies have the know-how to handle the many cases of renters insurance due to the many years spent in the system. They are likely also to have the most affordable rental insurance rate.
Ask around, and ensure you conduct the necessary research on the company you intend to get a rental insurance policy. Make inquiries about the claims process and how seamless they are, so in case you’ll be filing for a claim, you won’t be hassled out with endless paperwork till you burn out and forgo the process.
When seeking renter’s insurance, ensure the insurance company in Cameroon offers coverage in your area. Some insurance companies refuse to cover specific scopes for various reasons. So double-check the company’s coverage territory before you sign up for a policy.
In some high borough areas in Cameroon, some landlords require renter’s insurance before subletting their apartments. For the peace of mind it offers, a renter’s insurance policy is a small price. Don’t wait till a disaster occurs before you get one.
See Also: Home Insurance Companies in Cameroon.