If you have an apartment in Virginia or about to move into one, it’s important to find out about renters’ insurance. You may not know whether you’d be required to have renters’ insurance. Learn more about this and more from the experts at Cary-Wheeler & Associates Inc. of the Richmond VA area.
Is it Necessary to Have Renter’s Insurance in Virginia?
Are you required by law to have a renters’ insurance policy in the state of Virginia? You should know that while it isn’t a strict requirement to have such a policy in place, some landlords do ask in their that their tenants obtain a policy.
In July 2019, changes went into effect in the legislation that a landlord will have to make their tenants aware that the landlord is not responsible for covering the personal properly of the tenant. This means that you also will not have coverage from your landlord’s insurance policy.
On that note, the tenant should set up renter’s insurance if they do want their personal property to be protected. If you’re a landlord, it’s in your best interest to include this requirement in your standard lease if you want to avoid putting in the written notice about what’s expected.
Get the Best Type of Protection to Suit Your Needs
Renter’s insurance allows you to have the peace of mind associated with knowing that you won’t have to pay out-of-pocket for damage or theft of your possessions. There are many things that you should know first. Contact us at Cary-Wheeler & Associates Inc. to find out about this process. Serving the Richmond VA area, we’re pleased to offer top-notch insurance policies that apply to different situations.