If you are renting, renter’s insurance is similar to what you could call a “placeholder” homeowner’s insurance policy. It might surprise you, but in the case of an emergency, your personal belongings aren’t covered by your landlord’s insurance. Their insurance only covers their property.
There’s a clear reason why homeowners need an insurance policy, but renters may not be aware that they should have insurance. In big cities around the country such as Philadelphia, New York, Las Vegas, and more, there are a greater number of renters compared to buyers. That means if they don’t obtain renter’s insurance, they’re hit hard if an emergency happens.
Some situations protected by renter’s insurance:
- Fire
- Short-Circuit Damage
- Smoke Damage
- Theft
- Hail
There are more things renter’s insurance can cover in tight situations other than just your personal belongings. If there’s an issue with your current apartment or space, renter’s insurance can cover the temporary move until you can come back. Lastly, renter’s insurance can help you if someone is injured inside your residence. Whether it’s their fault or not, if you need to pay medical coverage than you may be covered.
The fact of the matter is that renter’s insurance in needed if you are renting! Contact Us to learn more and to discuss what renter’s insurance policies we have available.
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