You hear the news reports about inclement weather ruining property, but the chances of that happening to you are very slim. Many consumers decide not to purchase renters insurance, but renting comes with more risks than you may think. According to a study done by Harvard, 35 percent of families in the U.S. rent property, but so many don’t have insurance. Imagine that one day you return home to find your home has been consumed in a fire. If you don’t have renters insurance, you could have to replace your possessions out-of-pocket in addition to having to find somewhere else to live.
When you’re looking to buy renters insurance, you should try to come up with an estimate of what your possessions are worth to try to see how much coverage you need. Your renters insurance deductible will depend on a number of factors, including your area and the policy amount, but people are usually surprised at how inexpensive the coverage is.
Fires and flooding are among the more obvious housing-related risks, but there’s something else that you have to think about: lawsuits. If someone is injured at your apartment, they could sue you for damages even when you don’t own the place! The U.S. is known for being litigious, so it’s always good to consider the prospect of costly legal action. Renters coverage will let you live your live with the comfort of knowing you’ll be protected in the event of something negative.
When you’re renting, you’re probably try to cut down on expenses as much as possible, but renters insurance is something you should definitely budget for. You don’t want to regret not buying it when it’s already too late. If you have any other questions about renters insurance, callParadiso Insurance at [astPhone] or stop by our office in [astCity] to speak to an agent today.
