Are You Covered? Renters Property Insurance
Most landlords do carry insurance on their property – whether it is a house, an apartment, or a condo that they are renting out. However, that insurance coverage does not extend to you, your belongings, or your visitors. Your will need your own renters property insurance policy to cover you, your belongings, and any injuries that your visitors may sustain while on the property. Many landlords even require their tenants to carry renters property insurance.
Renters insurance is the cheapest insurance policy you will ever buy. Most policies cost less than $200 per year, depending on the area that you live in. This is a very small price to pay for the coverage and protection you will enjoy in the event that a disaster occurs. Your property is most likely well over $200 in value! You may not even realize what the total value of your property is!
Stop for a minute and think about that. How much did you pay for your entertainment center? What would it cost to replace it today? What about your computer system? Just with those two items alone, you are probably well up over $2000 of value. What about other items in your home – such as your clothing. Most people have well over $200 worth of clothes hanging in their closets!
Walk around and add it all up. What would the grand total be to replace everything in your rented home? Is that small $200 worth paying to have all of that replaced at no additional cost to you? Of course it is! A renters property insurance policy is the way to ensure that your personal belongings will be replaced in the event of a disaster.
Now that you know how much your property is worth, think about everything that could go wrong. You can’t control disasters in most cases. Your home could catch on fire. You could have busted water pipe that leaves your entertainment center sitting in two feet of water. Your home could be burglarized. All of this is covered with a renters property insurance policy. This protection will be well worth it’s $200 price tag!
