Renters Insurance: The Forgotten Policy
So you have your car insured, you have your motorcycle insured, your life insured, your health insured, you may even have your boat insured, but many people who rent, forget to have the rest of their things insured. Some people don’t even know that they can, or even if they can afford it.
When you own your home, it’s a no brainer, in fact most mortgage companies require that you have insurance. It will cover the house itself as well as the things inside. When you rent, insurance is much cheaper as you are only insuring the things inside and you don’t have to worry about the structure. Some policies even cover the things you have in your car if something were to happen to it.
Still, some may balk saying that they don’t have anything valuable enough to insure. While even though this may be true, the little things that you have to replace will all add up. In addition, many renters insurance policies include liability. This is important if someone trips and falls in your home and then tries to sue you. Remember, not just your friends come over, but also repairmen, exterminators and sometimes your business connections. If an accident happens, they may try to seek compensation.
The price you pay is very minimal for the coverage that you receive. Start by contacting your insurance agent that you have your auto insurance through. Oftentimes by bundling the two, it is even cheaper than another company can do, making it a no brainer.
Don’t forget about renters insurance. It’s better to have it and have nothing happen, than to have something happen and to wish you’d gotten it.