Business Travelers Should Consider Renter’s Insurance?

Recently, Corporate Housing By OwnerRenter's Insurance partnered with Travel Guard and offered a webinar to provide landlords with information on renter’s insurance options for their tenants.

As a business traveler, you may think insurance is just for the owners or landlords of corporate rentals (it’s not your flat screen television or expensive furniture). However, you may want to (re)consider the following:

  • Renter’s insurance will cover your personal belongings in case of a fire, flood or any liability issues.  If the property you are renting experiences any damage from the outside elements, the owner’s insurance will cover expenses and repairs. But let’s say your computer, iPad, cell phone and expensive business suits you are traveling with are destroyed from the overhead sprinkler system that was set-off due to a fire, who will replace those items? If you have renter’s insurance, they will be covered.
  • Renter’s insurance will cover any hotel costs you may incur if the unit you are renting becomes inhabitable during your lease term.
  • Renter’s insurance also covers you, the renter, against any liability if someone is injured on the property and tries to sue or if any property within the rental unit is damaged by fault of your own – such as breaking a glass table or damaging a wall

If you are interested in obtaining renter’s insurance, shop online, or inquire with the insurance company that covers your car or business (discounts are usually offered when you add renters insurance along with your current policies). Also, many CHBO landlords offer low-cost insurance policies if you need short-term insurance only. Check with your landlord if this is something you’d like to consider.

Hopefully you’ll never have to use the insurance during your extended travels, but as the saying goes, it is better to be safe than sorry.

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