Why You Need Renters’ Insurance

Why You Need Renters’ Insurance

renters' insuranceIf you are a renter and haven't purchased renters' insurance, you are taking a serious risk. Unlike your homeowner neighbor who has a homeowner's insurance policy mandated by their mortgage company, your personal possessions are completely uninsured.

Your landlord's insurance will only replace the structural elements of your dwelling. Should your home be damaged or destroyed by fire, flood or a plumbing leak that occurs while you're on vacation, you'll be stuck footing the bill to replace your furniture, clothing, technological equipment, and jewelry. Who can afford that?

There are several benefits of renters' insurance policies. They are extremely affordable, often costing less than $30 a month when bundled with your auto or other insurance policies. They provide coverages like:

  • Theft protection. Your renter's insurance will cover the value of your items if your home is burglarized, as long as the items were listed on your policy and/or fall within the coverage amount.
  • Injury protection. If a guest is injured while on your property, they can sue you for liability. A renters' insurance policy will cover their medical expenses depending on the terms of your policy.
  • Unexpected disasters. From fire or storm to electrical shortages and more, your insurance will cover the loss or damages related to most unexpected disasters, even property damage resulting from "disasters" caused by you.

We invite you to contact us at CCW Insurance today to learn more about how you can protect yourself and your belongings using a renters' insurance policy.

Image Source: freedigitalphotos