Do You Have Renters Insurance?
People who have cars have car insurance, and homeowners always have a policy that covers their home for many different types of problems. However, those who rent often neglect to get renters insurance. This happens because they do not know it exists, or they simply think that there is no way they are ever going to need it. This type of insurance is important, and becomes more of an issue as you age and acquire more expensive possessions. If you don’t have it, you should really rethink your position.
Did you know that even if you live in an apartment, you still need insurance? It’s true! If you’re renting an apartment, your landlord has a policy on the building, but that won’t protect any of your personal belongings inside your apartment.
Your renters insurance should cover your belongings in the event of fire, flood, or theft. Each policy will vary, but most are generally supposed to cover any damage or loss that is beyond your control. If there was a fire in your apartment, the landlord has homeowners insurance, but that only covers the structure of the house or building, but it will not cover your belongings. If you don’t have renters insurance, you have no way of replacing everything that you just lost.
Renters insurance can even apply when you rent space for uses other than living space. If you are a band, you may have a rental rehearsal space, and you probably have a lot of expensive equipment in there. If you have storage of your belongings somewhere, you may have a lot of money or assets sitting unprotected. In cases such as these, you should see if you can get an insurance policy for renters to protect your stuff and your investments. As with all situations, it is important to note and list all items included in any area to be insured along with any other information that proves the value of your belongings.
You may have to look around for good renters insurance, but more and more companies are offering this. You can start with the same company that handles your car insurance if you are happy with their rates and their service so far. It might be much easier to have all types of insurance though one company anyway. If your car insurer does not have renters insurance, you can ask your local insurance representative if they know where you can find someone and if they have a recommendation. Usually companies that handle homeowners will also handle insurance for renters, and you may be surprised at how affordable it can be. A little money each month for insurance is a blessing if something goes wrong.