Getting Renters Insurance
Homeowners insurance is something we all anticipate at some point in life. We realize that if we have a house we should insure it in case of flooding, lightning, a tree falling on it, or some other disaster, but when it comes to renting, we have no problem neglecting renters insurance. It is just as important though for you to get renters insurance even if it does not seem like it
Property is not covered
Your landlord should have your apartment insured, but their insurance does not cover your property. Renters insurance is what covers your property if you have a break-in or a tragedy that destroys your property occurs. Renters are more likely to be hit for burglaries than homeowners. Renters insurance will cover your property if it is destroyed in any disaster, but it also covers your property even if it is destroyed away from your home. If your bike is stolen while you are working, your insurance should replace it when you put in the claim. It is not simply a precaution. It is an investment on your life.
It is Cheap
Renters insurance average $15- $30 dollars a month. It will cost you between $.50-$1 a day depending on your plan. That is less than you normally pay for your meals or coffee or your gas. There really is no reason for putting it off. The average person in America has $20,000 worth of belongings. One would begin to think that $20 grand is worth the $30 a month. You can also pay it for the year, and depending on your provider, you could receive a discount for paying all at once.
It covers a lot
Renters insurance is not like homeowners insurance where you will need to tack on a bunch of policies. It covers a lot of situations such as fires, water damage, robbery, snow storms, electrical surges, smoke damage, etc. It will be able to cover the damage caused by these disasters, and it will also cover your property damage as well. It is not limited to just damage though. If you have someone hurt on your property, your renters insurance will cover your liability. The insurance will cover their medical bills or any lawsuit that may occur from the accident, but it will also cover any property damage you accidentally cause. For example, it will cover a damaged window from playing softball or lacrosse. It will also cover costs for you to live someone where else if you needed to move out for repairs, and they will also help clear your name if you have your identity stolen and could even cover legal fees.
Renters insurance should not be looked at as a monthly expense, but rather it should be seen as an investment. It protects you, building damage, and liability issues that may occur. It normally costs between $15-$30, making it less than a dollar a day. Only 45% of people invest in renters insurance, but they are 50% chance more likely to have a burglary. Get renters insurance and protect your life style.