If you rent an apartment or home, you might want to consider renter's insurance. This is a good alternative to homeowner's insurance when you are a renter, offering a way to protect yourself from loss of your personal property. Some landlords require it, but even if yours doesn't, it is still a good idea to get it. Here are some reasons to consider getting a renter's insurance policy.
Loss and Damage to Personal Belongings is Covered
When you rent your home, the landlord might help to cover damage to the property itself, including any appliances that came with the apartment or house, but not to any items you personally own. If there is a fire in your kitchen, the refrigerator or stove will be replaced by the landlord, but any pots, pans, dishes, and countertop appliances that were ruined are now your responsibility. There is a lot that can be covered by a renter's insurance policy, including jewelry, electronics, appliances, furniture, and clothing items. It includes coverage for perils like vandalism, theft, fire, extreme weather conditions, and natural disasters.
You Can't Control What Your Neighbors Do
Another reason renter's insurance is a good idea is because you are at risk of what your neighbors do. In apartment or condo buildings, you are sharing walls with your neighbors, so you are at risk of what damage is done to their apartment, as well as apartments above or below you. If there is a fire in your neighbor's apartment, even though it had nothing to do with you, it can reach your apartment and destroy your personal items. Also consider if the apartment above you had a major flood, which dripped down into your apartment and caused damage to your furniture or clothing. These types of losses and damage would also be included.
Extra Living Expenses Are Included
Many renter's insurance policies not only cover replacing your damaged or lost items, but will actually help to pay for you to live somewhere else temporarily while your home is being repaired. If there was a major flood, your home might not be safe to enter for days or even weeks. During this time, you will need to pay for a hotel, which can add up fast. If you had renter's insurance, it might help to pay for the hotel costs.
Also consider the fact that renter's insurance is an inexpensive policy, so it is well worth it to make the small investment. Contact a business, such as the Zimmer Insurance Group, for more information.