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Renters Insurance: Do You Need It?

Renting is still a viable option for many of us. We all went through the recent housing crisis, and now that the prices of homes are soaring to near historic levels some of us may be less inclined to take the leap of faith. But just because you don’t own your own home you should still keep your assets protected; you should still make sure that you are secure in crisis.

You might think that if you rent then the landlord has insurance that covers you and your things. But unfortunately, the landlord’s insurance covers the structure, the building, the things that he or she owns (their own liability). Their insurance won’t cover your things. Homeowner’s insurance and Renters Insurance work in similar ways. Your personal possessions are covered under Renters Insurance. That includes coverage for your clothes, furniture, electronics, everything up to a predetermined coverage limit. The insurance can also cover personal liability, which means that you are covered in the event that you are responsible for something happening to someone else. You are covered in the event that there is an accident at your home, apartment, etc., and someone else gets hurt—coverage for the possible medical expenses that could arise from the treatment of the injury. And best of all, if your residence becomes uninhabitable, you aren’t cast out on the street: Renters insurance allows coverage for any temporary living situation while your residence gets put back together.

The best part about Renters Insurance is that it’s very affordable. Especially affordable for the coverage offered in the policies. And it could even fill the gaps in your other policies. Consider this common problem: someone breaks into your car and steals something important—laptop, etc. Did you know that your car insurance may not cover the theft of the item? But if you have Renters Insurance, it’s likely that your insurance will not only cover any damage the thief made to the car—auto insurance—but also the stolen items.

If you would like to speak with someone about the benefits of Renters Insurance, then make sure to call Frontier Insurance today.

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