Millennials are now the largest segment of our population. They soon will be the largest percentage of our workforce. The “everyone gets a trophy” generation has gotten some bad press, but they are social, socially responsible and tech-savvy. They also don’t like paying for more than they use. This has led to the popularity in ride-sharing, use of rental bikes and scooters and a slower trend toward homeownership. There’s nothing wrong with this philosophy and some view it as a way to minimize obligations and expenses. This can lead to the mistaken notion that if one rents a home or apartment, they don’t need to have insurance.
The fact is that the landlord or property owner may have coverage on the rented structure, but that coverage will likely not cover the tenant’s contents and belongings. Furthermore, it doesn’t relieve the tenant’s responsibility for any injuries that may occur in their home or apartment. The solution? Renters insurance.
What is Renters Insurance?
Renters insurance is a policy that covers those who choose to rent the space they live in. There are three significant ways renters insurance protects tenants.
It is Affordable
Millennials and everyone else for that matter will appreciate how affordable renters insurance can be. It can generally be acquired for just a few dollars a week.
Just because you rent your home doesn’t mean you don’t need insurance. The good news is, it is a much cheaper option. Contact us to find out how renters insurance can provide you just a bit more peace of mind.
Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder
Search for a local agent with our agent finder map.
Read more about KayLynn's background.
Did you know that your rideshare work might not be completely insured? Before you get into an accident, this is what you need to know.
Umbrella coverage is perfectly named as it describes an added layer of liability coverage across your personal insurance policies. Learn more on our website.
Are you afraid of getting sued? If not, you probably should be. Luckily, you can protect yourself with umbrella insurance.
Home sharing has become an increasingly popular way to make extra money or meet expenses. Know the risks, however. Learn more about home sharing insurance.
Why is it called an insurance “premium” instead of cost or price? We don’t know either, but here are some common insurance terms everyone should know.
Food delivery service can be a good “side hustle” to make extra money. That is, as long as you are properly covered with auto insurance.
Life insurance offers an opportunity for you to leave a lasting legacy for your spouse, family or even a non-profit when you pass away.
If you are trying to save money on your auto insurance premiums, there are some ways to cut costs that may surprise you.
If you’ve ever thought “I don’t need life insurance. I’ll be dead anyway!” you are not alone. Read some of the excuses we’ve heard.
Like Homeowners, Renters too, can Sustain Losses