As a renter, you don’t own the structure you live in, so you’re also not responsible for insuring it. When it comes to your personal belongings, however, renters insurance is a must to protect the things that are important to you. Below are five reasons why you should consider getting renters insurance.
Renters Insurance Can Be Cheap
Renters insurance is typically one of the most affordable and straightforward types of insurance coverage. While your actual cost depends on the type of coverage and how much you need, renters insurance is typically a cost-effective type of coverage.
It Keeps Your Belongings Covered
Personal property coverage, one of the three main types of coverage under a renters insurance policy, helps cover belongings such as furniture, sporting goods, clothing or electronics in the event of a covered loss.
Your Landlord Might Require It
While your landlord has insurance to protect the rental property’s structure and grounds itself, your landlord’s insurance typically won’t cover your belongings. Your landlord or your landlord’s insurance company may even require you to purchase your own renter’s policy.
It Often Covers Hotel Stays In Case of Emergency
Additional living expenses insurance coverage can pay for lodging, meals, animal boarding and other expenses in the event you can’t stay at your home due to damages from an unpredictable event over which you have no control.
Keeps You Protected if Someone Gets Hurt in Your House
Personal liability coverage can pay for bodily injury and rental property damage sustained by others for which you or covered residents of your household might be legally responsible for.
SelectQuote Can Help You Find Cheap Renters Insurance
There are many carriers that offer renters insurance, making it important to shop around. At SelectQuote, we make the insurance buying process easy, comparing prices and coverages of some of the most trusted insurance carriers to find the right policy for you.