3 Reasons to Get Renter’s Insurance
Some rental properties require tenants to have rental insurance from an insurance company King George VA, but others leave it up to individuals to decide if they want to purchase coverage. It may seem silly to spend a bit of extra money each month on renter’s insurance, but having it can save you lots of money when disaster strikes. Learn three reasons to get renter’s insurance below.
- It Can Cover Personal Property
If your apartment is broken into and your belongings are stolen, or if a fire or flood destroys everything you own, rental insurance can provide you with money to replace what was lost. Rental insurance often won’t cover expenses for items that were lost if your irresponsible behaviors were the cause of the damages, but it can be a lifesaver in most other circumstances.
- It’s Relatively Affordable
Many people are used to paying well over a thousand dollars per year to insure their car, so adding renter’s insurance may feel like too large of an investment. Fortunately, renter’s insurance usually costs less than $200 per year! For under $20 a month, you can get good coverage on your valuables, and give yourself peace of mind.
- It May Cover Living Expenses if Your Rented Property Is Destroyed
If the home you rent becomes inhabitable thanks to a fire or severe storm, some rental insurance policies will help you pay for living expenses in a temporary home as you find a new place to live. Be sure to ask your agent if this benefit comes with your specific policy, as it can be incredibly helpful in unforeseen circumstances.
In terms of cost versus benefit, it’s hard to find a cheaper way to gain as much coverage as you can get from renter’s insurance. Speak with your insurance agent if you are interested in adding renter’s insurance to your policy.
