Top Reasons You Should Have Renter’s Insurance
March 23, 2018
Although not always perceived this way, when living in an apartment, renter’s insurance is just as important as if you owned a home and needed homeowner’s insurance. We believe there are many ways that you can protect yourself, your belongings, and your future by having renter’s insurance, which often comes at a very low cost. Check out our reasons below for why we believe having renter’s insurance is highly valuable!
Personal Property Protection
Do you have a lot of valuable items in your apartment? What if you lost everything in just a few hours? How much value do your items have? If you get nervous just thinking about these questions and the possibility of losing everything, it’s probably a good idea to get renter’s insurance. It’s also important to think about how in apartments, you live in very close proximity to your neighbors. If someone else is careless living next to you, at no fault of your own, your belongings could be the items at risk. Renter’s insurance can help insure you are covered in these situations, even when you are not the one making the mistake.
Liability Protection
Life happens. You’re having fun with your friends on a Friday night in your apartment, and accidentally leave a candle lit. Next thing you know, there’s a small fire and you damage part of your kitchen. Renter’s insurance could cover the cost of the kitchen damages. Next scenario, what if your friend is over and falls down the stairs of your loft apartment, injuring her back. If you have renter’s insurance, your coverage can prevent you from being sued for medical payments. Additionally, pet lovers will be relieved to know that if you have a dog, if a bite were to occur, you’re protected!
Additional Coverage Away From Your Home
Most renter’s insurance covers up to 100 feet away from your home. Say you had a party in your apartment complex’s clubhouse and someone hurt themselves, your items were damaged, or one of your guests damaged something in the clubhouse. All of these occurrences have the potential to cost you a lot of money, but also have the potential to be covered by renter’s insurance. Also, if you are moving and some items get damaged while carrying them to your moving truck, there could be a possibility of these damages being covered, as well!
It’s Super Cheap!
Most plans (if you combine it with your auto insurance) will offer an entire year of coverage for around $100. That’s roughly $8.50/month, or about the cost of one movie ticket. We definitely think this is worth the peace of mind of knowing that you’re covered in case something were to happen!
Do you have renter’s insurance and if so, have you ever had to use it? We’d love to hear!
