Before you decide to forego renters insurance, consider these facts.
You might assume that you don’t need to think about insuring your property until you own a home. However, even renters need to think about putting safeguards in place. Here are three important reasons why you shouldn’t skip out on renters insurance.
Your landlord’s insurance doesn’t extend to you.
Yes, your landlord’s insurance will cover your building itself. But if a fire wipes out where you live, your landlord’s coverage will pay to rebuild your walls but it won’t pay to replace your stuff. If you want to protect the things you own, you’ll need your own policy.
You probably have more than you think.
On that note, do you know how much your stuff is worth? Don’t assume you could easily replace everything you own. Make an inventory of all of your personal possessions with their values listed and total it up. That dollar amount will probably be higher than you would have guessed! It’s worth protecting your possessions with a renters policy.
Renters insurance also offers you liability coverage, insuring you against legal expenses if someone takes you to court for property damage or personal injury.
You can afford it.
Sure, this all sounds great… but you’re on a budget. Don’t assume you can’t work a renters insurance policy into your monthly expenses! This is one of the most affordable coverage options out there. Average renters policies cost somewhere between $15 and $25. For the cost of a couple of drinks, you can protect your personal property, cover your liability, and get peace of mind!
If these facts have you reconsidering your current insurance situation, contact NorthStar Risk Management & Insurance Services, Inc. in Walnut Creek, California. We can help you pick the right renters insurance policy for your needs and your budget.