Do I need Renter's Insurance?
Your first thought might be “No, my parents have insurance,”
or “No, my landlord has insurance.” If they are insured, that’s great…for them.
We invite you to ask yourself these questions to determine if you should have renter’s
insurance for you and your stuff:
1. Do you live at home
with your parents?
According to the Wall Street Journal almost 40% of adults
live with their parents. If you are an adult living at home with your parents
you may need your own renter’s insurance policy for your belongings.
2. Do you live off
campus while at college?
Living in a dorm your contents are covered under your
parent’s homeowners policy. This is not the case when you live off campus.
Renter’s insurance can provide coverage for electronics, clothing, furniture,
books, etc.
3. Do you rent an
apartment?
A common misconception among renters is that the
landlord/apartment complex/owners are insured, therefore they are also insured.
This is not true. Their insurance policy covers the dwelling and appliances
owned by them. It does not cover your personal belongings. Imagine if there was
a fire inside your apartment or your apartment is broken into or if you live in
an apartment complex and your belongings are damaged by smoke damage from a fire
in another apartment, renter’s insurance could cover your stuff.
4. Do you rent a home?
If you rent a home the same goes for you. If you are a
victim of burglary, a fire or major accident your landlord’s insurance will not
cover your belongings, medical expenses, etc. Renter’s insurance may even help
cover the cost of alternative housing if your home becomes uninhabitable.
5. Are you in between
homes and store your belongings a in storage unit?
If you’re staying with a friend or family while you are in
between addresses, and you’ve put your things in a storage unit you still want
them to be insured. You don’t want to assume that the storage company is going
to insure your belongings if a fire destroys the unit. Renter’s insurance gives
you comfort and peace that your stuff is protected even when you aren’t there.
If you have more questions about Renter’s Insurance please
let us know. Visit our website to request a free renter’s insurance quote. Our
agents are happy to help.
Christina Jarvis, Customer Service Representative
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