For many years, owning a home was the dream. It was what everybody strived for. Yet, the world is changing, and for many, the freedom offered by a rental property is just the ticket.
Renting gives you the freedom to move, yet with the security of knowing you have a place to call home.
It may sound great, losing the responsibility for building maintenance, but you need to make sure you obtain sufficient renters insurance.
Many landlords now make such insurance a requirement of the lease, but even if yours doesn’t, there are many benefits of renters insurance.
Let’s take a look at the top 5 now.
1. Hotel Costs are Covered in Case of Emergency
There is an emergency in your street, a gas leak, a fire, maybe even something more nefarious. You need to leave your home until the issue is brought under control.
That’s an expense nobody wants to have to consider. Lucky for you, that is just one of the benefits of renters insurance that you can enjoy. You are covered for the cost of your temporary relocation.
2. Damage to Rental Items is One of the Great Benefits of Renters Insurance
While you are renting your home, you might also be renting some of the furnishings within it also. If you have a good policy, your renters insurance should also provide coverage for such rented/non-owned items.
You would never want to claim damage, but accidents can happen.
3. Child-Based Accidents are Also Covered
If you have children, you will understand how much trouble they can cause. If you’re planning on having them … no spoilers.
Just make sure you are covered because another one of the benefits of renters insurance is that they cover any damage caused by children. This applies to your property or someone else’s
4. Off-Premises Coverage is a Handy Thing to Have
While you are unlikely to be covered for full replacement value, should you find your luggage lost or stolen while away from home, your renters insurance will cover you to some degree.
Check your policy and shop around. Depending on how often you travel, this could be a handy point to add extra coverage for.
5. Medical Costs for Any Visitors Injured at Your Home
Accidents happen, and while very few people plan to hurt the guests that visit them, it can occur from time to time.
One of the benefits of this insurance is that you can find coverage — usually for a variety of price points — for any medical charges incurred as a result of injuries sustained while visiting your home.
It is in Your Own Best Interest to Obtain Adequate Insurance
Policies will vary from place to place and from case to case. That is the nature of the business, but at the end of the day, it is up to you to protect yourself with renters insurance.
If you want to find out even more benefits of renters insurance, or are interested in a quote for yourself, then get in touch with us today. We want to ensure you are adequately insured to ease any worries you may have.