The Value of Renters Insurance

for rentI often wondered why you should have renters insurance when you rent a home or apartment. doesn’t the owner of the building have to have insurance? It turns out even if they do have insurance your personal stuff isn’t covered. So that photo of Grandma in the high school play, your favorite outfit, that brand new T.V. set they could all be gone forever.

When people buy their first home they usually make sure they get Homeowners Insurance to protect the investment they have made. What is often fireoverlooked, However, is the need to have renters insurance. Arn’t the things you own a type of investment too? Renters insurance covers your personal property in case of all the named perils, Theft, Fire, Wind, and Hail. It also has Personal liability coverage and coverages to cover the cost of emergency supplies and/or rent should the home you rent become inhabitable.

shadyAs a renter you have more risks, especially in apartment complexes as exposure to theft and fire are magnified. You have no control over what your neighbors get involved in or who they have visiting. Sometimes people (especially young people) forget how important it is to have the right kind and amount of insurance. I know when I was in college I didn’t give it a second thought. I just got very lucky I never suffered a loss of any kind. Now as I get older I realize how important the little things can be. I rest easy at night knowing I have coverage for all the things I love and while they can never be truly replaced I can pick up the pieces and start new memories without draining my bank account.¬†house

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

Up ↑

%d bloggers like this: