At some point or another, many people find themselves renting out a place to live. Living on your own is one of the biggest transitions individuals face in their lifetime. With all of this new found freedom comes a great deal of responsibility. The key to being a smart renter is very easy - all you need is renter's insurance.
Whether you're stuck in a rundown apartment following graduation or taking an extended tropical vacation in a beautiful house, renter's insurance is for you. Renter's insurance is a policy made specifically for individuals who are renting out houses or apartments for extended periods of time. We know what you are thinking, renter's insurance is unnecessary. Why would you ever need that? However, these 3 reasons will tell you otherwise:
1 - Your rent does not cover personal items: New tenants believe that landlords cover the entire building and all that comes within it. Unfortunately, almost all landlords are only responsible for the building or home that they are renting. The structure is typically all that they insure with their own property insurance. In some cases, your landlord will offer you a deal with an insurance company which they have partnered with. In either case, what you have within the structure of the apartment or home is uninsured without renter's insurance.
2 - Total up your belongings: Still think you don't need insurance? Take some time to look around and add up the total price of your belongings. What you'll come to realize is that this number is much larger than originally anticipated. The fridge, dishwasher and other large items all form the foundation of what your personal items are worth. Imagine a fire destroys your entire kitchen and you are an uninsured renter? You will face thousands of dollars in repairs and then be left to buy all new items. With renter's insurance, you are able to live with a peace of mind that your protected.
3 - The cost of renter's insurance is very affordable: The typical misconception with renter's insurance is that you will be spending too much money. However, the price of renter's insurance is just a few hundred dollars per year. Each month you are looking at paying the price of roughly one week's worth of coffee. For just that low price, you can have all of your personal items insured! In addition to the already low price, many insurance companies will offer an even lower price when you bundle this policy with auto or other forms of insurance.
Don't wait until it's too late, get a quote on renter's insurance now!