As a renter, you are not responsible for the unintentional physical damages that your rental space sustains. However, you are still charged with protecting your personal belongings and liability and paying for additional living expenses should your rental require repairs. This is why you need to secure the right insurance to meet these needs. Here are some of the reasons why you can’t afford to skip renters insurance.
1) It Protects Your Belongings
Renters insurance policies are designed to protect your personal belongings from damage or loss. For instance, if some of your possessions are stolen during a break-in or damaged during due to a water leak, then your insurance would pay to repair or replace them. This coverage extends to a variety of belongings including clothing, jewelry, furniture, electronics, and so on.
2) It Offers Personal Liability Coverage
If someone injured themselves while inside your rental or, if you accidentally caused injury to another person, then you would have a serious personal liability issue on your hands. Fortunately, renters insurance offers coverage to address third-party medical costs and even provides coverage for your legal expenses should the injured party decide to sue.
3) It Offers Coverage for Additional Living Expenses
If your home is temporarily uninhabitable due to a covered peril, then your renters policy will offer coverage to help you address your additional living expenses. For instance, your insurance will help you pay for things like hotel stays, restaurant bills, and other costs associated with living away from your rental until it is properly repaired.
These are some of the reasons why you can’t afford to skip renters insurance. Interested in securing the right renters coverage to meet all your needs? If so, then contact us at Mike Leonard Insurance Agency. Our dedicated team is eager to find you the right coverage from one of our many carriers including: Kemper, MetLife, Nationwide, Travelers, The Hartford, Safeco Insurance, Progressive, and American Strategic Insurance.