Renters Insurance Arkansas

Some landlords may ask for proof of insurance in their lease agreements, but renters insurance is not required by law In Arkansas. There's a reason some landlords require tenants to get their own insurance on top of the landlord's insurance; it financially protects both the landlord and tenant if damages or a loss occur. Landlord insurance covers repairs to the rental property caused by certain events like fire, as well as offering liability protection for the landlord. You'll need to get renters insurance for your own liability coverage and the protection of your personal belongings. Furthermore, Arkansas is the only state that doesn't require landlords to provide a habitable dwelling under the law. Your landlord is not required to make repairs either unless it's specifically stated in the lease agreement. For these reasons, it's best to get your own coverage for your rented home or apartment. At the minimum, renters insurance will cover you for loss or damage to your personal belongings, liability for injuries that occur in your home, and loss of use if your dwelling is uninhabitable due to a covered event like a fire.

Standard renters insurance plans in Arkansas cover you in three main areas: personal belongings, personal liability, and loss of use. Your valuables will be replaced if loss or damages occurs due to covered perils, such as theft, vandalism, fire, and windstorms. However, the payout is capped at your policy’s limit. If you have extremely valuable items inside your home that are worth more than the policy limit allows, you will have to add an endorsement to your insurance at extra cost. Personal liability coverage defends you from claims if you cause damage to other people’s property or must cover someone’s medical costs for injuries sustained in your home. Loss of use covers you for additional living expenses while your home is being repaired due to a covered loss. Additional living expenses can include many costs that come up as a result of temporarily relocating, such as hotel bills. Aside from an endorsement for particularly valuable items, you may want to add more special coverage to your plan. If you sell products online via sites like eBay or Etsy, some providers will offer business merchandise coverage. With their frequent incidence, you may also want extra coverage for disasters such as floods which are not covered by basic plans.