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5 Reasons You Should Get Renter Insurance

Posted by admin on October 19, 2022
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5 Reasons You Should Get Renter Insurance

Chances are you’ve come across a bunch of articles on the internet telling you that you need to get renters’ insurance. You might think you don’t need it, but that might not be true.


This article will discuss why you should get renters’ insurance.


Covers Your Items

Your landlord’s insurance policy covers the building you reside in, not your personal belongings. Most renters’ insurance covers belongings like electronics and appliances, furniture, and clothing. Some renters’ insurance even covers jewelry, but it varies from provider and plan. 


Some providers like Gecigo will even cover accidental damage you might have made to another resident’s personal property.


But if you have renters’ insurance, most, if not all, your stuff is insured from theft, fire, smoke damage, vandalism, windstorm, and water damage.


Expands the Number of Landlords Willing to Lease to You

A growing number of rental properties require tenants (especially first-time renters) to have renters’ insurance. And that number is only increasing.


When you get renters’ insurance, it could expand the number of real estate properties you could stay at. And the more options you have, the more likely you will find a home that’s ideal for you.


Renters’ Insurance Protects You in the Event of Disaster

Most renters’ insurance will cover you in the event of a disaster. Most policies will insure your belongings in a fire and windstorm such as tornadoes.


Most insurance providers require an additional policy to insure your items against floods, earthquakes, or nuclear hazards. So make sure you read the fine print of the policy you’re considering to know precisely what is covered and what isn’t. 


Protection from Theft and Vandalism

It’s everyone’s greatest fear. You come home after a long work day, and your front door is broken-in. All of your stuff is gone or vandalized.


With renters’ insurance, you’ll be protected from loss. You’ll be able to replace the items you’ve lost.


Renters’ Insurance is Affordable

You might be thinking that renters’ insurance sounds way too expensive. But it’s affordable!


Renters’ insurance can typically cost anywhere from 5 to 40 dollars a month, depending on who your insurance provider is and how much coverage you want. Comparatively, homeowners’ insurance can cost 56 to 170 dollars a month.


How Long Does it Take to Get Renters’ Insurance?

It depends on which provider you choose. With certain insurance providers, you don’t even have to step into an office to get approved and accepted for an insurance policy. You could complete an application online and get approved within minutes.


Interesting Stats on Break-Ins 

Break-ins happen nearly every 26 seconds in the U.S., and police only solve about 13 percent of burglary cases. The reason is that burglars don’t leave much evidence behind. And without security cameras, there’s little evidence police have to work with. Some people install home security cameras in their rental homes to help deter crime.

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