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Renting A House Or Apartment? Why You Need Renters Insurance

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Are you currently renting and think that you do not need to bother with getting insurance for your personal residence? While your landlord may be responsible for home insurance to cover the dwelling, that policy will not cover the belongings of their renters. That's where renters insurance can be incredibly helpful to help give you the protection you need. Here are some reasons why you should have renters insurance

Coverage For All Major Disasters

Many people do not fully understand what renters insurance covers and think that it is not worth getting. However, a policy will cover you from more than you realize. You'll have protection from all major disasters that could happen to your apartment, such as a lightning strike, a fire, or even wind and hail damage. For example, if you had a lightning strike that causes all of your electronics to become damaged, renters insurance would help replace those items that were destroyed. If another unit has a fire that causes smoke to get into your unit, renters insurance will pay to have items cleaned or replaced. 

Coverage For Theft

If you don't think it is likely to suffer a disaster, maybe you're more concerned about someone breaking into your apartment and stealing your belongings. Renters insurance will also cover you if theft were to happen. You can very quickly get back on your feet with all of your stolen belongings being replaced by your insurance policy.

Coverage For Liability

A typical home insurance policy will include liability insurance, which will protect you if someone were to be injured on your property and try to sue you. Unfortunately, that liability coverage that the landlord has will not extend to your apartment when you have guests over. Renters insurance will give you protection from lawsuits by providing you with your own liability coverage. 

Coverage For Living Expenses

If you do end up in a situation where your apartment has a fire or other disaster that requires you to leave your apartment temporarily, you are going to have to find a place to live until the unit is fixed. Rather than pay these costs out of your own pocket, renters insurance will cover your additional living expenses. This could include a hotel or renting another apartment for a long-term repair. 

These are only a few of the things that renters insurance can cover. Speak to an insurance agent to learn more about renters insurance.