Renters insurance
Similar to homeowner’s insurance, renter’s coverage is a type of insurance aimed at people who rent instead of own. It has a number of key benefits and given its relatively low cost, it is recommended for anyone who lives in rented housing.
Renters Insurance Protects Your Property
The most obvious benefit of covering your property is the most valuable one. Should something happen to your personal property renters insurance can help you recoup the costs. If you encounter a loss covered under your policy, like a fire or a robbery, over your deductible, your insurance will pay you enough to replace your property. Imagine if a robber broke into your apartment and stole your TV, stereo, laptop, camera, iPod and jewelry. Or a fire ripped through your apartment building. Could you afford to replace the items stolen or destroyed?
Renters Insurance Can Protect Your Property Even When It’s Outside Your Home
Most people do not realize that their renter’s coverage follows them outside of their apartment and covers your property regardless of where it is. This means that if your laptop gets stolen at the airport your insurance will cover it. It also can cover you if you lose your ring or you get mugged. Given the large number of expensive portable items that you probably carry on a day-to-day basis, this type of insurance is especially valuable.
Bad Things Happen to Good Renters
Renters can have the same leaky pipes, kitchen fires and wind damage as people who own detached single family residences. Generally, what happens in a detached home stops with that home. An electrical fire rarely causes a neighbor's house to burn down, after all. Apartments, on the other hand, usually share a building with other units. As such they also can be affected by mishaps that happen in those other units. Renters insurance covers your property whether the problem starts in your unit or in another unit in your complex.
The most obvious benefit of covering your property is the most valuable one. Should something happen to your personal property renters insurance can help you recoup the costs. If you encounter a loss covered under your policy, like a fire or a robbery, over your deductible, your insurance will pay you enough to replace your property. Imagine if a robber broke into your apartment and stole your TV, stereo, laptop, camera, iPod and jewelry. Or a fire ripped through your apartment building. Could you afford to replace the items stolen or destroyed?
Renters Insurance Can Protect Your Property Even When It’s Outside Your Home
Most people do not realize that their renter’s coverage follows them outside of their apartment and covers your property regardless of where it is. This means that if your laptop gets stolen at the airport your insurance will cover it. It also can cover you if you lose your ring or you get mugged. Given the large number of expensive portable items that you probably carry on a day-to-day basis, this type of insurance is especially valuable.
Bad Things Happen to Good Renters
Renters can have the same leaky pipes, kitchen fires and wind damage as people who own detached single family residences. Generally, what happens in a detached home stops with that home. An electrical fire rarely causes a neighbor's house to burn down, after all. Apartments, on the other hand, usually share a building with other units. As such they also can be affected by mishaps that happen in those other units. Renters insurance covers your property whether the problem starts in your unit or in another unit in your complex.
The Low Cost of Renters Insurance
Renters insurance is one of the least expensive insurance products. Renters insurance rates vary depending on the company you apply through as well as the amount of coverage you buy, the deductible you choose and the exact coverage you buy. However, the value of renter’s insurance is high. To start protecting your valuable assets, speak to a licensed insurance agent today.
Renters insurance
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