While most of us know just how important it is to have homeowner’s insurance, most still never stop to consider the importance of having renter’s insurance too. That’s why we at Amistad Insurance Services have come up with a list of reasons why you shouldn’t hesitate to get renter’s insurance.
- Renter’s insurance will cover the cost of belongings lost in a fire, due to lightning or hailstorm. Losing your belongings in a storm or fire can be devastating. Luckily, those with renter’s insurance are covered in these situations and will be compensated for their loss. You cannot assume the landlord’s insurance on the residence will cover your stuff. Most likely, it won’t.
- Renter’s insurance can protect you from theft. While these policies cannot actually stop a theft from happening in the first place, they will cover the cost of lost items. Depending on whether a person chose ACV or replacement cost personal property coverage, the insurance company will cover the depreciated value of the stolen items or the cost to replace them.
- If your home is damaged and unlivable, renter’s insurance can cover the cost of other living arrangements. Most people don’t have the money to pay for a hotel during home repairs. Thanks to renter’s insurance, the cost of your living arrangements are covered until you can return home.
- Renter’s insurance covers the costs of accidents that occur on a renter’s property. If a person is hurt while on your property, you might be held liable, even if you aren’t necessarily to blame. However, liability coverage in a customer’s policy will protect them from being sued for medical bills or other costs. Not all renter’s insurance includes this so make sure to talk with your insurance agent.
If you are renting a house or apartment and are interested in getting or want to learn more about Raleigh renter’s insurance, contact us today at Amistad Insurance Services.