The 5 Reasons You Want Renters Insurance

When moving into your new rental, lots of things are on your mind. You ask yourself about where you want to place your furniture or what couch would look best in your new living room, etc., but have you considered what happens if your furniture got ruined? The last thing you want to think about is the worst-case scenario, but that’s exactly what you need to do to cover all of your bases. With that being said, here we have the 5 reasons why you should have renters insurance.

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1. It Covers Your Belongings

Think about your television, laptop, couch, or mattress – these are some of the most expensive things we purchase. By taking out renters insurance you are guaranteeing that if the worst does occur, you will have some recourse. An insurance policy will provide you the funds you require to re-purchase all lost items and move on with your life!

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2. Takes Care of Third Party Liability

Does your unit have stairs or a staircase? Does your stove get hot? These may seem like questions with obvious answers, but, have you considered what would happen if a friend or worker got hurt while in your home? Well, in simple terms – you could get sued. Renters insurance covers third party liability so if anything does happen inside your rental and someone does get injured – you’re covered!

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3. Keeps You Safe If Disasters Occur

Renters insurance covers you from natural disasters such as earthquakes or hurricanes. Think about the natural disasters that occur in your rentals’ location and make sure this is covered in your policy. Other disasters that may occur are not necessarily ‘natural.’ What if you forget to turn a sink off, flooding your apartment and the one below? Your landlords’ insurance will cover their unit (the brick and bones of the rental), but, your ruined things and that of the tenants below… well that’s on you! Unless you have renters insurance that is.

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4. Helps With Temporary Housing

If the worst-come-to-worse does happen, where do you plan to live? How do you plan to pay for it? With renters insurance, you can leave the uncertainty behind! In the case that something drastic occurs in your rental unit leaving it uninhabitable, renters insurance will cover the cost of temporary living arrangements. It allows you to focus on replacing your things rather than where you are going to sleep, giving you peace of mind and guaranteeing, no matter what, everything will be okay.

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5. Renters Insurance Is Affordable

The best and most important part about renters insurance is that it’s inexpensive. Policies do differ but the average policy costs less than one dinner a month. It is important to read through your policy to make sure it covers everything you need, this includes; specific amounts for natural disasters that occur more commonly in your neighborhood, that it offers enough coverage for all of the belongings in your home as well as a suitable amount of liability insurance.

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