Attention Home Renters: The Importance of Renter’s Insurance

Are you currently renting a home and do not have any renter’s insurance? Certainly renting a home can be a far more affordable choice than choosing to purchase your own home. You don’t have to worry about costly repairs or property taxes each year, but you do have to worry about disasters, like fires and floods. Your personal possession are not covered by the home owner insurance policy that the landlord holds – which means that if something bad does occur, you are on your own buddy. Why you Need Renter’s Insurance Renter’s insurance is essentially like home owner insurance for a renter. It covers disasters like fires and floods, etc. It also covers your personal property against disasters, break-ins and theft. Finally, it protects you from personal liability should somebody fall and break their arm while over at your house, and then later decide that they should sue you for all that you have. If you are renting a home without renter’s insurance, you are placing yourself at serious financial risk with every passing day. How Much Does Quality Renter’s Insurance Cost? The good news with regards to renter’s insurance is that it is very affordable and easily acquired. Most rental insurance policies cost about a dollar per day, or around $25-$45 per month, depending on what coverages you opt for. Additionally, your auto insurance company may already offer renter’s insurance, which would garner you a fat discount on the policy because you already have an auto policy through them.