Renters Insurance for What-If Moments
Many people believe because they rent an apartment, townhouse, or house they don’t have to worry about insurance, while others may simply not get around to it. In fact, stats show that 25% of individuals who rent don’t have Renter’s insurance, and this number goes up for Millennials. About six in 10 don’t carry coverage.
Think about it, though. What happens if a fire destroys your furnishings, equipment, and clothes? You wouldn’t have coverage to replace these items. Sure, the property owner/landlord’s insurance would cover the cost of the building damage, but it won’t step in to cover anything you own inside your home.
Also, what if someone comes to visit you and is injured inside your apartment. Again, since the injury occurred inside your home, the landlord’s insurance won’t cover any medical bills or liability claims.
Renters insurance is important to have for these very reasons. And it’s quite affordable for the amount of coverage you get.