While it may seem like your landlord’s insurance policy should extend to the renters living on their property, it’s not always the case. Renter’s insurance is a must-have for anyone leasing their home as it protects your items rather than the structure that holds them. In case of flood, theft, fire, or another source of damage, every renter should purchase an insurance policy.
3 Reasons to Purchase Renter’s Insurance
1. Protects Your Belongings
If you’re like most renters, everything you own is inside your apartment. If a thief breaks in or the structure is damaged by fire, you’ll need to replace those items that were damaged or lost. Renters’ policies help reduce the cost of those replacements, so you won’t have to worry about depleting your savings.
2. Many Landlords Require It
Since your landlord’s homeowners insurance policy does not cover you or your belongings, your landlord may require a policy as a condition of the lease. This is perfectly legal and protects you from liability or personal injury lawsuits should someone be injured inside your apartment or house.
3. It’s Affordable
While most insurance has a reputation for being expensive, most renter’s insurance policies are incredibly affordable. Remember, the low cost does not mean you’re sacrificing the quality of your coverage; even the highest quality policies are still inexpensive. Best of all, you may be able to save even more by adding a renter’s policy to your existing insurance, creating a bundle with your provider.
Whether you’re renting your first apartment or want a quote for an updated renter’s insurance policy, let the team at Watts Insurance Group in Lincoln, NE, help you find the coverage you need. Their experienced insurance agents will work with your budget to protect you and your belongings. Learn more about their coverage options by visiting their website. For a free quote or to schedule a consultation, call (402) 261-3999.