When you rent your home, it might seem like you don’t need insurance. If the building gets damaged in an accident, it will be your landlord’s problem, not yours. However, just because you are renting your home doesn’t mean you don’t have anything at stake. There are a few important reasons why you should consider getting renters insurance.
The first reason to get renters insurance is to protect your belongings. Your landlord’s insurance only covers his property. It will cover repairing the building and anything he owns in your home, but won’t cover anything you own. If your property is destroyed by a fire or someone breaks in and steals your valuables, you’ll be on you own to replace everything. This can easily cost you thousands of dollars out of pocket. When you have renters insurance, it will cover these losses.
Another reason to buy renter’s insurance is to protect yourself against lawsuits. If someone has an accident and get badly injured in your home, you as the renter could be liable. Renters insurance protects you against this liability and makes sure you don’t lose a fortune in a lawsuit.
Lastly, renters insurance is very inexpensive. Many policies cost less than a dollar a day. This means you can get this important protection without having to make a big financial commitment.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
Renters often assume that their property contained in a rented unit is covered by the insurance carried by their landlord. This is not correct. They also assume that if someone is injured on the rented property it is the liability of the landlord, again, that is not correct. Most tenants cannot afford either of these types of losses.
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The first reason to get renters insurance is to protect your belongings. Your landlord’s insurance only covers his property. It will cover repairing the building and anything he owns in your home, but won’t cover anything you own. If your property is destroyed by a fire or someone breaks in and steals your valuables, you’ll be on you own to replace everything. This can easily cost you thousands of dollars out of pocket. When you have renters insurance, it will cover these losses.
Another reason to buy renter’s insurance is to protect yourself against lawsuits. If someone has an accident and get badly injured in your home, you as the renter could be liable. Renters insurance protects you against this liability and makes sure you don’t lose a fortune in a lawsuit.
Lastly, renters insurance is very inexpensive. Many policies cost less than a dollar a day. This means you can get this important protection without having to make a big financial commitment.
http://www.statefarm.com/insurance/renters/renters.asp