4 Reasons Why You Should Have Renter’s Insurance

Are you currently renting a place?

Did you recently move from being a homeowner to a renter or out of your parent’s place to your first home?

Have been renting all your life and you still have no renter’s insurance?

If you answered yes to at least one of these questions, then you need to continue reading this post.

Being a renter, you need to make sure that you are prepared for unfortunate things that could happen at any time (a tornado, a fire, or any natural catastrophe that may happen in the future).

It’s always better to have peace of mind but if you’re not sure if renter’s insurance is for you, we’ve compiled a list of reasons why you should probably rethink it.

1. Coverage

The best thing about you getting renter’s insurance is that it covers so much.

This insurance typically covers your personal property, medical bills, and personal liability.

If in any case your rental suddenly becomes uninhabitable, the insurance will also cover the costs incurred if you have to stay in another place.

On top of that, you can also get fantastic additional coverage that will cover your storage unit and other things.

Say, someone breaks into your car and steals your personal possessions like your bag with your laptop and phone in it, you’ll also be covered. That’s peace of mind.

2. Affordability

Renter’s insurance not only covers a lot of things but it’s also very affordable.

You can often find a policy for just around $12 per month, with that or a little more you can get yourself a great policy that will take care of you and your belongings.

If you really think about it, it’s a no-brainer. Imagine, you’re paying about $16 a month for a really good policy, and then a thief comes into your rental and steals all your belongings valued at around $3000 in total. With your payments of $16 a month, you can have all of that replaced. That’s not a bad gig.

3. Your landlord’s insurance excludes you

Your landlord’s insurance will only cover the damage that may happen to their property, which is the actual place you’re renting. It won’t cover anything of yours.

Consider this, a tornado hits ripping off the roof to your place, your landlord’s insurance will most likely cover that.

However, the things that you own and invested in – the flat screen TV, laptop, camera, phone, bed, furniture, etc – will not be covered unless you have your own renter’s insurance policy.

4. Your valuables are worth more than you think

You may think that what you have in your possession doesn’t really cost that much and you think that you won’t need a renter’s insurance policy.

Think again.

Have a good look around your place and make an audit of all the things that you currently own.

What valuable things do you have now? Clothes? Phones? Cameras? A laptop or a desktop computer? Jewelry? Couch? Other furniture? Kitchen appliances? Food in your fridge?

Now, if you lose all of these assets tomorrow, the question is, can you afford to replace them in a jiffy? Probably not.

Let’s say you can afford to have them replaced, but just think of all the money you can save when you have your renter’s insurance set up and you paid so little a month for it, too.

Bottom line is you definitely need to get a renter’s insurance policy now. Given that it’s so affordable and covers so many things, it’s definitely worth it.

What are you still waiting for? Get a quote for renter’s insurance today!