Just like when you own a home, you want your possessions to be protected when you are renting your home. Whether it is an apartment or a home, renters insurance is the key to protecting your belongings and financial security. If you don’t have a renters insurance policy, you will have to pay for everything out of your own pocket.
You Aren’t Covered Under Your Landlord’s Insurance
If you are renting your living space, it is up to you to insure yourself and your personal belongings. Your landlord is under no obligation to cover you under their policy. Many landlords are now requiring their renters to purchase a renter’s policy before they sign the lease and move in. This protects them in many ways and also gives you peace of mind.
You Own More than You Realize
Over time, you can accumulate much more than you realize. If you have an insurance policy that is more than two or three years old, you may want to have it reviewed to ensure that you have a sufficient amount of coverage. It’s important that you keep a written or video inventory on hand of all your possessions. Every time you add a large item to your inventory, you will want to report it to your insurance agent.
Renters Insurance Will Pay for Alternative Housing
In the event of an emergency, you may need to find alternative housing for a few days or maybe longer. If you have renters insurance, you will have access to additional funds that you can use to pay for alternative housing for as long as it is needed.
Maintains Financial Security
If someone is injured while visiting you at your home, you will be required to pay for any medical care they receive or wages they may lose. If you have renters insurance, it will take care of all these expenses for you. If you don’t have a policy, or it isn’t sufficient to cover your needs, you will have to pay for all of these expenses out of your own pocket. This could be devastating for your financial security.
Covers Your Items When You Travel
If you are on vacation, your renters insurance will continue to cover your property if it is lost or stolen. Without your renters insurance, you would have to pay to replace them out of your own pocket. Having a good renters policy will protect you from losing your items whether you are at home or traveling on vacation.
Costs Less than You Think
Most people put off buying renters insurance because they assume that it is too expensive. It actually costs much less than you would think. For a few dollars a month, you can get the peace of mind and financial security you need to feel comfortable.
Consult with Spotlight Insurance Agency
If you are a renter, don’t leave your financial future to chance. Contact our agents here at Spotlight Insurance Agency today to learn more about how a renters policy will help you. We have the answers you are looking for when it comes to having the right renters policy. Insurance policies are safety nets you can rely on to keep yourself financially secure.