You found an apartment, bought a new flat screen television, but did you remember to get peace of mind? About 75% of renters do not have renter’s insurance. They feel it is unnecessary until something happens to their apartment and their belongings. Renter’s insurance is the best peace of mind money can buy.
Some people say they can’t afford renter’s insurance and that is the reason they don’t have it. The real question is can you afford not to have it. With policies starting as low as $12.00 per month, depending on the coverage you need, it is not too much to spend on insurance. For less than a couple of pizzas a month, you can have the peace of mind that you are protected in the event of a catastrophe.
Even though your landlord may have an insurance policy, it will only cover the building damages. The landlord’s insurance policy is not going to cover your personal property, unless it is due to the landlord’s negligence. Negligence would have to be proved in court, so even then, there is no guarantee. Many people are surprised to discover that is the case. Renter’s insurance offers protections against misfortunes like fire, theft, or water damage. Be sure to check the insurance policy so you have an understanding of what perils are covered in the policy.
The cost of your possessions adds up quickly. That laptop, digital camera, even your furniture and clothing can become very expensive to replace if something happened. Many people are not prepared to pay a minimum of $10,000 to replace their belongings in case something happened. Then there are the expensive high-end items you may own, like that watch or ring. You can get high-end items included in your coverage. It is important to talk to your insurance agent to make sure you are getting the right coverage for your items.
Personal property is not the only coverage offered by renter’s insurance. Peace of mind is also provided by liability protection. If you throw a party in your home and Johnny gets injured during a fall, liability protection will cover medical expenses. That’s right, medical expenses are included in liability protection if someone is hurt inside your apartment. This protection helps keep your assets and savings that you have worked hard to acquire safe.
Before you say that renter’s insurance is not for you, look at your belongings. If you had to replace your television, couch, camera, computer, clothes, bed, how much would it cost you today? The truth is, when you look at how much output you would have to replace all your belongings, it is staggering. Paying that $12 or so a month is not such a big deal when you look at what you have. When you consider the liability side of the insurance, it looks even better.
The problem is most people do not realize how important renter’s insurance is until it is too late. You may think nothing would ever happen to your stuff or it is really not worth that much. That could be detrimental to you. Just having the peace of mind that you are covered in case something happens will help you sleep easier at night. You may think that theft, fire, or water damage may never happen to you, but what about the one time it does? Renter’s insurance is the best option for peace of mind when it comes to your belongings.