Reasons to Get a Renters Insurance Policy
Posted on January 9, 2008
Filed Under Uncategorized |
You need renters insurance for the same reasons that you have other types of insurances - because you never know when something unfortunate is going to happen!
Let’s say there is a fire at your apartment, and all your stuff is ruined. What happens? Most people who rent a dwelling assume the landlord is responsible to cover their loss. But this is not true. A landlord has insurance to cover his losses, not yours. Can you afford to start over?
Another thing most renters don’t think about is what would happen if, for example, a friend comes in, slips on something, and gets hurt badly. You would be personally liable. Can you afford to cover someone’s medical bills?
What if someone breaks into your apartment and takes your stereo, TV and new leather jacket? Can you afford to replace them?
How about if you answer the phone as you are washing the dishes and leave the water running. You forget about it and have a nice long phone conversation, while the water overflows the sink and leaks into the apartment below you, ruining their furniture. Guess what - you would be liable for their loss. Can you afford this scenario?
These are terrible scenarios that I hope never happen to you, but they do happen to people every day. What can you do?
That is where renters insurance comes in. The typical renters insurance policy will cover you for these types of expenses.
Most renters insurance policies will cover your personal property losses caused by all sorts of things. Typical policies cover theft, vandalism, fire and/or smoke, lightning hits , electrical surges, and storms. Renter’s insurance will also provide liability coverage for claims or lawsuits as a result of someone else sustaining bodily injury or property damage caused by an accident in your rented unit.
So, why do you need renters insurance? Because bad things do happen to good people. And it is better to be safe than sorry!
Comments
Leave a Reply
You must be logged in to post a comment.