Why Should You Must Have Renters Insurance

Renting a home or an apartment doesn’t mean you have any less risk of loss. It’s up to you to protect your home and your belongings, even if you don’t own the property you live in. Renters insurance is an affordable way to make sure you remain financially stable. Protecting your home and your family is just as important when you are renting as it is when you own a home. When you are trying to determine how much insurance you need, start by calling a reputable agent.

It’s Cost-Effective

Renters’ insurance is cost-effective. For a few dollars a month, you protect your possessions and limit your liability. Replacing everything you own out of pocket would be extremely costly. You can bundle your renters’ insurance with an auto insurance policy to make it even more cost-effective. A yearly review will also keep your costs low. Having the right amount of coverage will save you money in the long run.

Covers Personal Property Even When You Travel

Just like homeowners ‘insurance, renters insurance will protect your personal property while it is in your apartment or while you are traveling. If you carry a laptop or other electronics with you when you travel, they will be covered if they are lost, damaged, or stolen. Always keep a written inventory with you so you can file an accurate claim.

Provides Liability Coverage

A good renters’ policy will also protect you against any liability claims. If a person is injured while on your property, or the property you rent, you will be liable for their medical bills and property damages. Your renters’ policy will ensure that all of their expenses are covered without you having to pay any money out of pocket. With medical expenses on the rise, this can be a real lifesaver and will protect your financial future.

Covers Additional Living Expenses If You Are Displaced

If something happens that makes your apartment uninhabitable, you will need to find alternative living arrangements. Your renters’ insurance will provide you with the funds to stay in a hotel or rent another apartment until your old apartment can be sufficiently prepared so that you can move back in. Even if you only must leave for a few days, your expenses will be covered.

Landlords Often Require It

Many landlords require that all of their renters have a renters insurance policy in place. In some cases, you may have to present it to the landlord when you show up to sign the lease. This protects both you and the landlord. Your landlord will keep a copy of your policy on file in case an event occurs that requires that you file a claim.

Get the Best Renters Insurance at Premier Risk, LLC

Renters insurance isn’t something you should take lightly. Contact the agents at Premier Risk as soon as possible. Our agents can help you customize a renters’ policy so that you have all the coverage you need. Understanding how renters’ insurance works will ensure that you get all of the coverage you need.