Pitch: Insurance? Nah…My Landlord’s Got Me Covered.
Pitch: Insurance? Nah…My Landlord’s Got Me Covered.
There’s a lot of reasons people rent the space where they live. Some do it because they don’t want the responsibility of homeownership. Others because they can’t quite afford to buy a house. There are those who appreciate the relatively low costs of renting vs buying. When you rent, for example, you don’t have property taxes, maintenance expenses or homeowners’ insurance. You do, however, still need to cover your personal property and protect yourself from liability claims.
If your reaction is “Nah, my landlord’s got me covered.” you better take another look.
Whether you are renting a house or an apartment, your landlord likely has coverage that protects his interest, not yours. Their building will be covered in the event of a fire or other covered calamity, but your personal property? Not so much. If someone trips and falls in your apartment or house, the landlord may be covered from a liability claim, but you, as a tenant, will not.
The good news is that renter’s insurance will cover your property and cover liability claims, and it is very inexpensive. In fact, some policies can cover you for less than a dollar per day.
So what will renters insurance protect you from? Some examples include loss of personal items due to fire or storm damage, theft, vandalism and more. It will cover valuable personal items like your clothing, furniture. electronics and digital devices. It can cover any small collections you may have like coins or stamps. It can cover you from liability claims resulting from an injury in your living space to a friend, visitor or even a delivery person. Another nice feature of renter’s insurance is that it will cover a certain amount of your personal property from loss even while traveling.
Yes, renting can be a smart economic move, but not if you are putting your personal property at risk or potentially subjecting yourself to a liability claim. If you expect your landlord to have you covered you may find yourself in a tough spot.
If you are renting living space or considering it, we strongly recommend renter’s insurance. We will be happy to assist you in getting sufficient coverage at an affordable rate. Bundle it with your auto insurance and you may see additional savings. Protect your stuff…with renter’s insurance. Contact us today!
Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder
Search All Blogs
Search All Blogs
Read More Insurance Blogs
The Right Recipe For Your Life Insurance Program
What Are the Ingredients for Your Life Insurance Program?
Facing the Inevitable
Have You Had That Uncomfortable Conversation with Yourself Yet?
What Grandparents Should Understand About Their Children and Grandchildren
Shocker: Times Have Changed
Relationship Building: The Power of Questions
How Questions Can Be the Key to Valuable Conversations
Does Your Child Have These Critical Characteristics?
Most Parents View These Traits As Having Great Value
What Are The Odds?
A Look at the Chances of Various Events Happening to You
Discovering More About The World Around Us
What We Speak and Where We Eat Both Divide and Bring Us Together
Discovering Your Child’s Hidden Talents
Uncovering Your Child’s Potential
Six Things About Your Own Body You May Not Know
Some of These May Surprise You
Tips for Staying Mentally Fit
You Can Stay Sharper, Longer