Do You Have Renters Insurance?

​Whether you have purchased your home or are renting it, insuring your possessions is an important thing to do.  However, what type of insurance should you have if you are living in a rental property?  This is where renter’s insurance comes in.  Renter’s insurance provides coverage for those unforeseen disasters that can happen in a home.  For example, it will replace the tenant’s possessions against damage and theft. It also covers for personal liability so that if someone in the home has an accident or is injured, the tenant will be covered for this.  It would also provide coverage for damage caused to a neighbor’s property.  Its good to keep in mind, though, that there will be various levels of coverage depending on what you want.
 
Perhaps you’re thinking, doesn’t everyone know about renter’s insurance? The fact is that many tenants do not even realize that it is available to them.  There are some other reasons many do not have renter’s insurance also.  Some believe they are covered under the homeowner’s policy, while others think it will be far too expensive and that their possessions are not worth very much.  But, with an average price of less than $17 a month, its clear to see that renter’s insurance is, in fact, very affordable.  Think, too, of what it would cost to replace these possessions, even those you don’t think are worth much.
 
While it’s impossible to predict when disasters might occur in the home, renters insurance will help give you peace of mind if it does happen.