Renters insurance covers any personal belongings you have at a property you’re renting. Many people believe that their belongings are covered under their landlord’s insurance policy, but that isn’t the case. For this reason, many renters don’t think renters insurance is necessary.
This is a mistake. Here are three of the biggest reasons why you should consider purchasing a renters insurance policy:
- Landlord’s requirement. Every landlord is different, and while not every landlord requires you to have a renters insurance policy in place, many do. Landlords often do this to minimize their responsibility for your belongings while you live on their rental property.
- Additional living expenses. Sometimes, circumstances require you to live away from your rental property for a while, such as extensive repairs to the property. Renters insurance policies often cover the cost of you living somewhere else while any repairs are made that will allow you to return to your rental space.
- Affordability. Many people don’t want to pick up an additional monthly charge, but renters insurance is very affordable. In fact, most policies are less than $30 a month, making them more affordable than most types of insurance policies.
Having a good renters insurance policy can save you a lot of money and headaches in the event that something happens at your rental space, which is why we here at LaVaughn Rodgers Insurance highly recommend purchasing a renters insurance policy. If you need help finding the right policy, our team is happy to help you find one with the coverage you need.