Renters Insurance in Minnesota

For both landlords and renters in Chaska, MN, rental property insurance is an important topic. Fire dwelling insurance and renters insurance are two different types of insurance that afford different protections. While they both may cover losses if a rental property burned down when the tenants were out on the Chaska Town Course or boating on the Minnesota River, the losses that the two insurance policies would cover would be different. If you own or rent an apartment in Chaska, make sure you understand the different coverages these policies afford.

Fire Dwelling Insurance

Fire dwelling insurance insures rental properties, specifically. It lets landlords insure their rental properties against fire and other hazards, but it usually does not cover personal effects that are inside the building. The precise hazards that a fire dwelling policy provides protection against will be determined by its terms, so it is best to carefully review a policy’s terms with a licensed professional from your insurance agency.

Renters Insurance

Renters insurance gives tenants liability coverage and insures their personal belongings. It does not provide coverage for rental buildings, although a tenant’s liability coverage may protect them if they’re found responsible for burning a property to the ground. Like fire dwelling insurance, the exact coverage that a renters policy provides will depend on its terms and conditions. Therefore, renters should review their policy with an agent who is licensed in Minnesota.

Understand Your Policy

You need to understand your own policy if you are a landlord or tenant in Chaska, MN. Rental property insurance and renters insurance can be confusing on your own, but one of our independent agents at the Martinson Agency will make it simple to understand. If you need additional coverage, they, as an independent agent, can also help you shop for a policy from all the insurance companies in Minnesota. Call our insurance agency, and one of our agents will be glad to review your policy with you today.