Renters Insurance: Why is it Necessary for you?
Do you drive your car without auto insurance? Do you feel safe until you have bought home insurance? If no, then how can you secure your stuff without getting a renters insurance policy? According to a latest survey, nearly 96% of homeowners had coverage under insurance whereas only 36% of the renters were found with insurance coverage. Here are some compelling reasons why renters insurance is a must for you.
Protection of stuff
Keep in mind that the home insurance policy purchased by your landlord does not provide any coverage to your belongings as a tenant. You need to buy an insurance policy to protect your belongings form appliances in the kitchen to all the electronic stuff. If you have a renter’s policy, you get compensation form the company in case your stuff is stolen or destroyed.
You can experience burglary
It is really surprising but tenants are more likely than homeowners to experience break-ins. You can reduce chances of burglary by placing alarms but buying a renter’s insurance policy is a much better idea for you.
Destruction from fire
Mishaps caused by short circuits and fire in the cooking equipment numbered more than 97000 around the country in 2012. In many cases, fire broke out not because of an alert tenant but because of the fault of one of his neighbors. This is why you cannot take any chances and buying a renter’s insurance policy is a prudent step for you.
It can protect you in the outdoors also
Renter’s insurance not only protects your valuables inside the house but also when you are in the outdoors. You can breathe a sigh of relief if your laptop gets stolen in the college of when your bike meets an accident on the street. This is because of your renter’s insurance provides coverage to your belongings even when you are in the outdoors.
Provides living expenses in case of an emergency
You certainly cannot do much if your home is burnt because of a fire or when a storm damages the roof completely. If you cannot stay inside under these circumstances, your renter’s policy provides money to meet living expenses.
Coverage for medical expenses of visitors
This may sound hilarious but you find it like a blessing when one of your visitors breaks his leg as he falls because of the rug and then sues you in a court of law. You can pay the damages out of your renter’s insurance policy.
If you’d like to talk more about the value of inspections, or you need help with Everest Property Management, please contact us at Everest Realty.
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As a top producing Realtor and Property Manager; Terry specializes in sales, extensive construction homes, rentals, REO’s, short sales, and all aspects of Real Estate. After graduating the University of Michigan with a master in MBA, Terry continued his endeavor and now has over 15+ years of experience in the Real Estate world. If there is anything that has to do with Real Estate and sales, you can always be sure of Terry to provide important, specialized knowledge.
