Renting isn’t only for young people just starting out on their own or those trying to save until they can afford a home. Many people choose to rent because it fits their way of life better than owning. If you live in a rented apartment or home, have you considered insurance to protect yourself and your belongings?The trusted experts at Tri-Star Insurance are here to tell you why adding renters insurance may be a good idea.
Personal Property Is Protected
A possible reason tenants don’t obtain renters insurance is because they don’t understand what is and is not already covered under their landlord’s policy. Generally, your personal belongings are not on that list. In the case of a robbery, fire, or any emergency that destroys your property, you have no coverage. Rather than allowing the burden of replacing your belongings to fall on you, add a renters insurance policy to help keep your possessions protected.
Loss of Use Is Covered
What if you are suddenly not able to live in your apartment due to an emergency? Perhaps a neighbor had a fire or your apartment is flooded due to faulty plumbing. Can you afford your monthly rent along with a temporary housing cost? Most renters can’t, but a renters policy can cover loss of use during the time you cannot inhabit your rented home.
Liability Can Be Prevented
Much like with personal possessions, a landlord’s homeowners policy does not typically protect renters from liability should there be an accident. If any guests of yours should fall or injure themselves while at your apartment or house, they could sue you or your landlord. Adding liability coverage to your policy can help pay for medical bills, legal expenses, and other damages.
Policies Are Affordable
Many renters are interested in getting insurance but feel they cannot afford it. Renters insurance is typically affordable, only costing policyholders a few dollars a month. Since it is in your landlord’s best interest for you to have renters insurance, see if he or she will slightly reduce your rent if you purchase a policy.
Whether you plan to continue to rent or are thinking about buying a home, insuring your living space is important for your peace of mind. For information or quotes on affordable renters or homeowners insurance in San Diego, call us today at 619-272-2100.