You are currently viewing Five Reasons You Need Renters Insurance Right Now

Five Reasons You Need Renters Insurance Right Now

There are a lot of things to think about when renting a place you want to call home.

Things like:

  • How much is my deposit?
  • Will I understand the lease or rental agreement?
  • Will I have a great relationship with the landlord?
  • Will they accept pets?

These are just a few of the things. 

Among all those things to think on, it can be easy to forget about renters insurance.

Unfortunately, insurance is an important part of keeping yourself and your belongings safe.

People who don’t purchase it often regret it.

Here are five reasons you should be buying renters insurance before you move in.

1. Renters insurance protects your personal property

Imagine someone walks in your open sliding glass door while you are away and steals your computer and some of your other electronic gadgets.

What are you going to do?

If you don’t have renters insurance, the answer is that you’ll soon be shelling out big bucks to replace it.

Renter insurance allows you to protect your personal property against things like fire, theft, and vandalism.

For maximum protection, look for a policy that offers 100% replacement cost coverage.

2. Renters insurance provides you with peace of mind when you’re away from home

Now imagine that you’re using your computer at a coffee shop or whatever local public hangout you might you.

You get up to use the bathroom and someone swipes your things.

If you have renters insurance with ample “off premise theft” coverage, you can make a claim for the items you lost.

3. Renters insurance offers liability protection

Regardless of how careful you may be, unfortunate things happen.

If you have insurance when a friend slips and falls down your stairs, the liability portion of your policy will kick in to cover any possible medical bills or legal expenses that stem from the accident.

4. Renters insurance is more affordable than you think

Many people avoid getting insurance because they think it’s going to be expensive.

Fortunately, this isn’t true.

The National Association of Insurance Commissioners reports that most renter’s insurance policies will cost you only $15-$30 each month.

How’s that for affordable protection?

5. Having renters insurance can make it easier to rent

Landlords love seeing tenants who have their own renters insurance policy.

It conveys the message that you’re responsible and prepared.

Take Action

Purchasing rental insurance before you go rental hunting can easily increase the number of places or apartments you’re qualified for.

This means more housing choices for you and a higher likelihood of approval by landlords.

Whether your concern is protecting your valuables or becoming a more desirable tenant, there are dozens of benefits to carrying a renters insurance policy. Insurance policies can help you replace lost belongings and they’re cheap enough that they won’t break the bank.

Plus, having a quality insurance policy is a great way to ensure that you have a plan to cover your valuables in the event of a disaster or break-in.

So, what are you waiting for?