Do I Really Need Renters Insurance?

Friday, October 21st, 2022
renters insurance

Do you need renters insurance? The simple answer is that it’s a meaningful way to protect yourself financially. Anything can go wrong when you rent a property, and you may be liable for the costs. Keep reading to find out why you might want to ask for a renters insurance quote before you start renting.

What Is Renters Insurance?

Renters insurance protects tenants from loss or damage to their personal belongings. Many landlords require their tenants to have it, and for good reason. Even though the landlord’s insurance policy may cover the building itself, it will not cover the tenant’s personal belongings. In the event of a fire, theft, or natural disaster, renters insurance can help to replace lost or damaged items. 

Why Is It Essential?

Hopefully, you’ll never need to file a claim or deal with insurance companies. However, considering how unpredictable life can be, it makes sense to get it. Here are the top reasons you should consider getting renters insurance.

It’s Cost-Effective

You can find a policy for as little as $10 a month if you compare offers from insurance companies. So, for the price of a couple of cups of coffee, you could insure your prized possessions. It’s very little compared to replacing all your home’s contents and paying for additional living expenses while searching for a new place. 

Your Landlord Isn’t Responsible for Your Items  

The landlord typically covers the structure and fixtures. If the geyser bursts, they will claim against their insurance to fix everything. However, you can never be sure how much coverage they have for personal belongings and whether this extends to tenants. 

Thinking About Renting a House?

Renters insurance is a vital tool to protect your assets. To learn more about renting a house, contact Highland Park Village in Amarillo, Texas. We offer a unique rental experience at great prices. Call us at (806) 335-1451 or Send Us an Email for more information!