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Why It is Always a Good Time for Renters Insurance

Posted on January 13, 2016 by Bill Petersen in Insurance

Why It is Always a Good Time for Renters Insurance

Renters Insurance

Congratulations, you are about to move into your new apartment!

Moving is an exhausting endeavor but once you unpack the boxes and put everything in its proper place, you have created your new home. Whether you rented an apartment, condo, corporate rental, studio or room, now a good time to consider the benefits of Renters Insurance.

Do You Really Need Renters Insurance?

Take a look around. What you could lose if you had a fire or theft? What if you had to replace everything that you own?

How Much Renters Insurance Do You Need?

The average renter purchases about $35,000 in coverage for personal belongings. If you had to replace everything new, how much coverage do you need? A new mattress? Sheets and towels? Couch and chairs? Pots and pans and dishes? TV, game systems, mobile devices and computers? And, don’t forget clothes, shoes and accessories. What would the cost be to replace everything NEW? That is the amount of renter insurance coverage you should purchase. To accurately calculate how much you really need, ask your insurance agent for an inventory checklist to start the process

Does Your Landlord’s Property Insurance Cover You?

When you rent, you landlord’s insurance covers property loss, but does not provide coverage for any type of loss to your personal property. This is why renters insurance is so important.

What Does Renters Insurance Cover?

A renter’s policy provides coverage while you are at home or traveling. Let’s say you are on vacation and someone steals your laptop or camera or your entire suitcase. If you had a renter’s policy, this type of loss would be covered. Accidentally hit someone with a golf ball or baseball? A renters policy provides liability coverage, which could protect you financially from costly claims and lawsuits. So, if you are found responsible for injury to another person, your renter’s insurance policy could help you pay for bodily injury, property damage and defense against these types of claims or lawsuits.

How Much Does Renters Insurance Cost?

Renter’s Insurance is relatively inexpensive. The monthly premium can be as low as the cost of a large pizza. Compared to the small fortune it would cost to replace all you own – renters insurance is a smart investment.

Enjoy your new home and contact your insurance agent to get your policy started today!


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