Four Reasons You Should Get Renter’s Insurance

Make text bigger | Make text smaller

• Tweet
• Pin It

If you are renting your house or apartment, then you will need an insurance policy in order to ensure that any belongings that you have in the property are covered. You might think that your landlord’s property insurance will cover this, but this will typically only stretch to the building itself. Your personal property, whether it’s your electronics, furniture, clothing, and anything else inside the home will only be covered through a renter’s insurance policy. This is not usually provided by the landlord, so it’s your responsibility as a tenant to find and purchase a policy that works for you. Here are some reasons why it’s worth investing in renter’s insurance. 

#1. It’s Affordable:

The good news is that getting renter’s insurance to protect your things isn’t going to cost the earth. In fact, it’s often one of the most affordable types of insurance policies out there with prices coming in at an average of just $187 for a year. However, bear in mind that the actual cost of your renter’s insurance will depend on a wide range of factors including the type of cover that you need, how much, your deductible amount, and the area in which you live. 

#2. Your Personal Property is Covered:

There’s not much worse than going through a break-in only to find that your landlord’s insurance won’t cover your purse, your laptop or your TV – and it’s gone forever. A renter’s insurance policy will provide protection against the loss of all your personal objects, including jewelry, clothing, furniture, electronics, and computers, to name a few. Even if you don’t own a lot or don’t really have anything expensive, never assume that it can’t be stolen in a burglary – the cost of replacing your things can quickly add up. Plus, bear in mind that the insurance doesn’t just cover you for theft but also for fires and natural disasters, for example. 

#3. Your Landlord Might Require It:

If you are wondering whether or not you need renter’s insurance, or you’re considering the type of coverage that you need, then it’s worth double-checking your tenancy agreement, with more and more landlords now requiring their tenants to get renter’s insurance in order to ensure that the tenancy runs smoothly and to make sure that they are not held liable in the event of a break-in or damage to the property which includes the tenant’s belongings. Similarly, if you are a landlord and wondering ‘how much renter’s insurance should I require?’, it’s standard to ask tenants to protect their belongings from theft and any damage to the property that is covered in your landlord’s insurance policy. 

#4. It May Cover Additional Living Expenses:

Finally, it’s worth looking into renter’s insurance as it may help with covering all or part of the cost of additional living expenses if your rented home becomes uninhabitable. This could include the cost of temporary accommodation elsewhere, including food, travel and more. 

If you rent your home, investing in renter’s insurance is a no-brainer. 

• Tweet
• Pin It

Related Posts

• 

  Construction Jobs and Accessories
  Construction Jobs and Accessories
• 

  Alternatives to Standard Rehab Treatments
  Alternatives to Standard Rehab Treatments
• 

  Daily Devotional – My Heart Longs for You
  Daily Devotional – My Heart Longs for You
• 

  Ancient Herbs With Modern Application
  Ancient Herbs With Modern Application