If you’re a renter, it is important to have renter’s insurance. Numerous Saint Clair Shores property managers and landlords require you to show proof of a renter’s insurance policy before moving in. However, even if they choose not to, you should still get renter’s insurance for yourself. It may seem unneeded, but the fact is that renter’s insurance is not costly to purchase, and, more importantly, it can provide a lot of peace of mind in case something goes wrong with your belongings. Here are five reasons why every renter should have renter’s insurance.
- Your landlord’s insurance doesn’t cover your belongings in the event of a power outage, fire, flood, theft, or other disasters.
Your landlord’s insurance mostly covers the property, not your personal belongings. If there’s a fire or flood in your apartment, you’ll be responsible for replacing anything not covered by the additional renter’s insurance policy.
- Renter’s insurance is relatively cheap and can be customized to fit your needs.
A basic renter’s insurance policy could cost only about $20 per month. Additionally, if you have costly items like jewelry or art, you may purchase extra coverage to guarantee they’re fully protected.
You can also customize your renter’s insurance policy to include liability coverage, which protects you if the damage is caused to the property because of something you or your guest may be responsible for or if someone is injured in your home and sues you. If you have roommates, it is essential to remember that they would need their own policies since your renter’s insurance policy does not cover their belongings.
Each adult in the rental must possess their own renter’s insurance policy.
- Most renter’s insurance policies cover temporary living expenses if you have to move out of your apartment due to a disaster.
If your apartment is uninhabitable because of a fire or flood, your renter’s insurance policy will probably cover the cost of a hotel room or other temporary living expenses. This might be tremendous assistance if you don’t have the funds to cover these unexpected costs.
- Renter’s insurance can help you rebuild your life if something happens to your belongings.
If you lose everything in a fire or theft, renter’s insurance can help you replace your belongings. This can be a huge benefit if you don’t have the cash on hand to replace everything at once.
Renter’s insurance can also help you replace important documents like your passport or birth certificate if lost or destroyed. Losing these items can set you back financially and make it harder to replace them.
- Having renter’s insurance gives you peace of mind knowing that you’re covered in case of an emergency.
No one wants to consider worst-case scenarios, but the fact is that accidents and natural disasters occur. Furthermore, it’s reassuring to know that you’re covered if something happens to your belongings. Renter’s insurance gives you peace of mind knowing you’re protected in an emergency.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
