When renting an apartment, townhome, or house you will want to purchase renters insurance. Sure, your landlord has property insurance, but did you know that won’t cover any of your belongings?
Your landlord’s property insurance covers the structure of the property. If you want any of your belongings covered in the event of a fire, weather damage, theft, and more, renters insurance in Springfield, Ohio will be essential.
Renters aren’t always automatically required to have renters insurance, but we can think of a lot of good reasons why renters must have it.
Let’s look at some of the many reasons you could benefit from renters insurance.
Many people are pleasantly surprised when they find out renters insurance is relatively affordable. The average renter’s insurance cost in the U.S. is $168 per year, or about $14 per month, according to NerdWallet’s latest rate analysis. This can be paid in one yearly amount or monthly payments.
Your actual payment will depend on the details of your renter’s insurance policy. Our team of Insurance agents at Link-Hellmuth Insurance can help you establish the right amount of coverage based on your personal situation.
Covers Losses to Personal Property
One of the reasons many people opt to not purchase renters insurance is that they don’t believe their belongings are all that valuable. We encourage you, however, to look around and start adding things up. You will find that the value of your items from TVs and furniture to golf clubs and jewelry can add up quickly. Just think, if all that was gone, how much would it cost to replace everything? Chances are a lot!
Renters insurance typically covers your personal belongings through a long list of situations in which they could be damaged or lost. The coverage will vary based on your policy, but most commonly this includes:
- Fire or lightning
- Riot or civil commotion
- Vandalism or malicious behavior
- Weight of ice, snow, or sleet
- Windstorm or hail
- Water damage (from household appliances, plumbing, heating, air conditioning, or fire-protective sprinkler systems)
As you can see, most of these instances can’t be prevented, planned for, or controlled. This is why renters insurance is your best bet in protecting your belongings from the unknowns of life.
Provides Liability Coverage
In addition to covering your personal belongings, renters insurance also provides you with liability coverage. This means if a friend, neighbor, or grocery delivery person gets hurt on your property and decides to sue you, you can be covered.
Your renter’s insurance policy will likely provide at least $1000,000 in liability coverage which would pay court judgment or legal expenses and may include medical payments coverage.
Has You Covered While Traveling
So many people who rent instead of owning a home, do so because they aren’t ready to be tied down to one location. If you are a renter who is constantly on the move and loves to travel, renters insurance should be very important to you.
When your rented home sits vacant while you travel it can be more at risk for theft or damage that can go unnoticed and ultimately destroy your personal items. You can travel confidently, knowing your belongings are protected as your jet set around the world.
Purchasing Renter’s Insurance
Just like any other insurance policy, when shopping for renter’s insurance working with an independent agent will allow you to compare policies and prices from multiple different insurance providers. Our team of independent insurance agents is here to help you find the right renter’s insurance policy for you.