Why Buy Renters Insurance?

by OnlineInsurance Staff on September 10, 2010

In this life, nothing is certain, and nothing lasts forever. That’s why we take precautions like buying car insurance and saving for the future. Many people who rent, however, underestimate the risk of losing everything, and don’t protect themselves with renters insurance. When you add it all up though, your belongings are worth so much to you. Why not protect your stuff and look for online insurance quotes designed for renters?

Renters insurance is usually very inexpensive. It works much like a homeowner’s insurance policy, protecting you in the event of theft or fire. It doesn’t just cover the stuff inside your home, though. In many cases, renters insurance will cover losses to your vehicle when it’s parked outside your home. This can be a huge relief for people who discover too late that theft isn’t included on their auto insurance policy.

So what kinds of things can be covered? Basically, anything you have in your home. Consider the value of your entertainment system alone. Most renters have a small fortune invested in electronics, including TVs, stereo systems, game consoles, and computers. These are the kinds of big ticket items burglars love, and many rental units are simply not that well protected. If you think about it from the thief’s perspective, you could be a prime target for a break-in.

Renters insurance doesn’t stop there, though. When you review your online insurance quotes, you’ll also see coverage for liability. This protects you and your financial assets against a lawsuit when someone gets injured in your home.

You don’t have to be throwing knives or jumping on a trampoline for someone to get hurt. It could be as simple as getting burned in the kitchen or slipping on a wet doorstep. When you think about the many visitors you have in and out over the course of a year, and compare that with the extremely low cost of renters insurance, getting yourself covered starts to make more and more sense.

Some things that happen in your apartment or rental home may be outside of your control. For example, fire can tear through apartment buildings or closely-set houses and devastate whole families, putting them suddenly out on the street with nothing. Renters insurance will not only pay to replace what you lost, but often will cover most of your living expenses if you have to stay in a hotel or somewhere else temporarily.

For all of these reasons, some landlords require tenants to buy renters insurance. The vast majority of other renters are commonly not covered. Make sure you’re protected by comparing online insurance quotes today.

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