4 Good Reasons to Get Renter’s Insurance
While practically everyone who owns a house has homeowner’s insurance, less than half of all renters in the United States have renter’s insurance. This is unfortunate, considering that renter’s insurance provides a lot of benefits.
One reason for this is that a lot of renters just assume that they are covered under the landlord’s insurance policy. Also, a lot of people underestimate how valuable their belongings are.
If you add up your phone, computer, furniture, and more, you’ll probably quickly start to realize just how much money your valuables are worth. This is why renter’s insurance is useful for property protection.
If you’d like to learn more, then keep on reading and we will take you through the top reasons that you should get renter’s insurance.
1. It’s Affordable
For a lot of people, renter’s insurance only costs a few hundred dollars every year. Of course, the actual cost is going to depend on many different factors, including where you live, the amount of the deductible, the kind of coverage that you get, and how much coverage you need.
Just make sure to get a renters insurance quote before buying a policy.
2. It Covers Losses to Personal Property
Rental protection will help protect you against losses to personal property. This includes things like electronics, furniture, computers, luggage, jewelry, clothes, and more.
Even if you don’t own a lot of things, the items you still have might bear a lot of value.
A standard policy can cover damage, fire, smoke, vandalism, theft, and snow.
It should be noted that standard policies don’t protect against earthquakes and floods. The same is true for wind damage.
Your policy also won’t cover your items due to negligence. So if your candles set your curtains on fire, you likely won’t be covered.
3. Your Landlord Might Require It
The insurance that your landlord has will cover the building and the land. However, it won’t cover your personal items. A lot of landlords are starting to require that their tenants buy their own renter’s insurance policies before moving in.
The more covered a tenant is, the less responsibility a landlord has. Having renter’s insurance could help you edge out the competition when you are going hunting for apartments.
4. It Covers Your Belongings When You Travel
When you have renter’s insurance, your personal items are covered. This is true whether you are home or traveling. Your items will be covered anywhere in the world.
Just make sure you know what covered losses are in your policy.
The Importance of Knowing About Property Protection
Hopefully, after reading the above article, you now understand the good reasons for getting property protection. Renter’s insurance can help you make sure that your belongings are safe, no matter what.
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