Reasons to Buy Renter’s Insurance
Not every landlord will require you to purchase renter’s insurance before moving in, but this doesn’t mean you shouldn’t have it. It’s one of the most affordable types of insurance and worth investing in for the following reasons:
- It’s affordable. Renter’s insurance is one of the most cost-effective types of insurance.
- It covers a host of losses. From damage caused by fire to lost belongings due to vandalism and theft, renter’s insurance runs the gamut of protection you need to restore lost or damaged possessions.
- It provides liability coverage. Liability coverage is typically included in a standard policy. This means you’re protected if someone is injured while in your home or when you hit that lousy shot on the golf course and someone gets hurt. It also pays court judgments, as well as legal expenses up to the policy limit.
What Does Renter’s Insurance Cover?
Renter’s insurance protects against losses to personal property. This includes possessions like:
It also protects against the common and uncommon perils of life:
- Damage from vehicles
- Falling objects
- Fire or lightning
- Weight of snow, sleet, or ice
- Windstorm or hail
- Damage from water or steam
Typically, losses resulting from floods are not covered in standard renter’s insurance policies. You can learn more about protecting your home from flooding here.
Is Renter’s Insurance Required?
Though not required by law, it is common for a landlord to require that you purchase renter’s insurance before move-in day.
To learn more about renter’s insurance, fill out the contact form and we’ll be in touch shortly.