Should You Get Tenant Insurance?

People do not think twice about getting homeowners insurance. In fact, this insurance is so important that most people cannot get a home loan without it. A big financial institution does not want to finance your home without knowing that their money is guaranteed if something goes wrong. So, why don’t today’s renters want the same peace of mind?  Is it because they are not financially invested?  Perhaps. Although many are opting out of this important coverage, several people are recognizing the value of tenant insurance.

 

Liability

 

Even though you are a renter, you still might be liable for accidents that happen while people are at your apartment, home or townhome. If someone falls or gets bitten by your pet, they might choose to come after you. With the right coverage, you will be protected during these situations.

 

Possessions

 

If you have tenant insurance, your possessions will be protected if physical damage occurs on your property. During these situations, the property owner will probably replace the structural damage. If you don’t have renter’s insurance, you will have to pay to replace your belongings or go without them. This can be costly if you have to replace computers, TV, jewelry, and other valuables.

 

Fortunately, most tenant insurance policies are affordable. The extra money you spend on this policy each month will provide you with peace of mind. For more information, contact an insurance agent today.

 

photo credit: swisscan cc

Leave a Reply

Your email address will not be published. Required fields are marked *

15 − 8 =