What’s the importance of Renters Insurance?

If you’re renting a house, condo, or an apartment, the last thing you’re thinking about is renters insurance. Since you don’t own the building, the landlord is covered, and you don’t value your personal belongings to really add up, what’s the point?

What would you do if:

• The building or home catches fire and all your personal contents are destroyed. Now, all your belongings are gone and you don’t have a place to sleep.
• Your home or apartment is burglarized; you’ve lost your laptop, mobile phone, entertainment system and flat screen TV. How about your more modern technology items such as a Tablet, iPhone, iPod etc…
• A visitor or service provider trips and falls in your home or apartment and decides to sue you for his injuries.

Whether or not it is your fault, a renter must replace his or her personal items. If there is a law suit, the renter will have to seek a defense attorney even if there is clearly no fault.  How much would it cost to replace your clothes, laptop, and furniture.

Here are some reasons to have renters insurance:

Burglary. You may think your apartment is “secure”! Rental units are prime targets for theft and burglars are getting smarter about how to break into apartments and rental homes; most of them do not have a security system and are not insured.

Fire or Smoke Damage. The landlord’s insurance won’t replace your furniture and personal belongings. Renters insurance will cover items damaged by fire, smoke, and other situations.

Water Damage. Renters insurance may cover items caused by water damage.

Additional living expenses. If your unit is damaged by water or fire, you’ll likely need to find another place to live whether short or long term. Most policies include coverage for hotel expenses or assistance to find an alternate rental unit if you can’t live in your rental unit.

Liability Insurance. Renters insurance can cover injury to another person on your property. It can also include medical payments coverage that pays for expenses of guests.

Inexpensive. Renters insurance is very inexpensive if not relatively cheap! Higher deductibles can decrease the cost of insurance.

Renters insurance is a must if not required by your landlord and can save you thousands of dollars, all for a lot less than you might think. Get a free quote and get covered today online by visiting www.hda.stillwaterinsurance.com