Renter’s Insurance: Why You Need It, What It Covers
Most renters benefit from renters insurance. It’s one of the most important investments you’ll make to protect your belongings and finances when moving into a rented space. Most property owners will require you to maintain this policy as well. Yet, you may wonder, why do you need it? What will it do for you?
What Does Renters Insurance Cover?
Renters insurance provides two important forms of insurance protection:
- It will help to cover your assets and belongings if an event, such as a fire, occurs. The property owner’s insurance does not cover your belongings or any of your losses.
- It provides financial protection to you if you face liability claims, such as someone falling in your home and requiring medical care.
Renters insurance covers financial risk to you. These are risks not covered by the property owner or manager’s insurance plans.
Can You Save Money on Renter’s Insurance?
Another factor to consider is just how affordable renters insurance is. Most policies are affordable, but there are ways to reduce your costs further. For example, bundling your renters insurance and auto insurance together can substantially reduce your overall costs without reducing the amount of protection you have. Bundling simply means you’ll select policies for both of your car and home from one provider.
If you haven’t done so yet, talk to your agent about renters insurance and how it can help you. Also, find out how you can link renters insurance and auto insurance plans to see significant savings overall. Then, you’ll have peace of mind knowing you’re protected from most risks.
Did you know linking renters insurance and auto insurance in a bundled plan can save you money? Work with your insurer to find out how you can gain significant coverage at very competitive rates.