Anyone renting their home has the option to choose renters insurance. This type of insurance is designed to provide the tenant with coverage for any unexpected disasters that might occur in the home. Some of the basic things renter’s insurance should cover are personal possessions, which will be replaced if they are damaged or stolen. It should also cover for personal liability. This means that if someone has an accident in your home or some damage is done to a neighbor’s property, such as a water leak for example, then you will be covered for this.
With good reason, then, renter’s insurance is an important thing to have, but many people do not have it, why is this? One reason is that some believe renters insurance will cost too much. The truth is, however, that a renter’s insurance policy is very affordable. On average, it shouldn’t cost you more than $17 per month.
Another reason many do not have renter’s insurance is that they think their possessions are already covered under the landlord’s homeowner’s policy. They might also assume that their belongings are not worth very much. But, think about how much it would cost to replace all those belongings. Lastly, a tenant might not even be aware that a renter’s insurance policy is available to them.
Its clear to see, then, that renter’s insurance is a very affordable, not to mention, important thing for anyone renting their home to have but many tenants are not aware of how easy it is to have.