As housing prices soar, more and more people are turning to rent as a more viable option. However, just because you don’t own the property doesn’t mean you should go without insurance. If you rent, you need renters insurance to provide protection and assistance when you need it.
Reasons To Have This Insurance
Renters face the same risks as homeowners, such as fires and vandalism, which is why they need insurance to be covered in situations like this. There are three main reasons to have insurance as a renter, as noted by www.byrnesagency.com:
You can be protected from lawsuits
You can receive temporary living assistance
You can protect your items
There’s an assumption that landlords will cover the cost of any stolen items or damage, but that’s not always the case. Having this insurance means you can protect what’s important to you and be covered in case you need to live somewhere else if repairs need to be completed for your unit to be habitable again.
Protecting Renters and Their Assets
Your landlord might cover some things, such as damage to the building, but it’s up to you to ensure your personal belongings. Having renters insurance allows you to do that and rest easy knowing you’re covered in the event of a disaster.