If you are a renter, you need to purchase renters insurance! Why? The Department of Justice estimates that approximately 3.7 million homes are broken into each year, costing renters and homeowners billions. If you do not have renters insurance and your property is stolen, what are your rights? Does the landlord have a requirement to pay for your lost or damaged property? Renters insurance is a reasonably inexpensive way to cover your belongings in the event of a break-in or disaster.
Renters Insurance Will Cover Personal Property
Renter’s insurance plans will cover the cost to replace belongings if they are stolen or damaged, but they also protect your assets if you remove them from the property. What does this mean? If you have a laptop and take it with you on vacation and it is stolen, your renter’s insurance will cover it as part of the theft provision.
Inventory Your Belongings
When seeking renters insurance, it helps to have a catalog of your belongings. Evidence of belongings makes it easier to know what is missing and needs to be replaced by the insurance in the event of a break-in or property damage.
Include High-Value Items in Coverage Limits
As you compare renter’s insurance options, review their policies for high-value items. Jewelry, fine arts, and other items are typically covered, but they could have a limit as to how much the insurance company will reimburse or replace.
Insurance for Medical Expenses
Apartment renters can rejoice knowing their medical costs can be covered if they are injured in the home or someone you know is injured. Renters insurance will cover liability costs and prevent you from losing everything in the event of dealing with an accident or injury.
Renters Insurance Covers Accidents
What happens if you accidentally leave the water on, and it floods the neighbors below you? Renters insurance will cover the cost of repairs to your apartment and your neighbor’s apartment. Renters insurance can also help if you have a pet that bites a neighbor! The injured party’s medical costs will be covered entirely by the insurance so long as the dog is not deemed “high risk” under the policy.
Don’t let your property and your family be at risk! Compare multiple renter’s insurance policies to find quality coverage within an affordable price range for your needs. Just Protect Insurance is here to help with all your renter’s insurance needs; use our easy insurance comparison tool to find rates in your area.