Renters insurance isn’t nearly as common as homeowners insurance, even though it can be really helpful to renters to have. Either people don’t know about it, don’t think it’s important, or don’t think it’s affordable. However, you might be surprised by how much you stand to benefit from a renters insurance policy, especially if you have a family. Here are some reasons you might want to consider getting a policy.
- Your lease might require it. Make sure you check!
- It protects your property from damage and theft, which won’t be covered by your property manager. Some policies even extend this protection to when you aren’t home, like if you go on vacation.
- It can protect you from liability claims if someone gets hurt in your home, or even if you break or damage something of someone else’s outside of your home (it’s kind of like accident insurance... for humans).
- It can cover hotel stays in the case of an emergency in your rental!
These are just a few examples of what renters insurance might help you with, but of course all policies are different. On the bright side, most car insurance companies offer renters insurance that you can couple with your car insurance payments, and the cost is generally low. So, if you think you might benefit from coverage, reach out to your insurance company. If you have any other questions, feel free to contact us!