Do I Need Renters Insurance?

If you are like most Americans, you do not think about renters insurance until it is too late. According to the Insurance Research Council, 57% of tenants do not buy renters insurance. Renters insurance can provide peace of mind knowing you are protected against loss of personal property, along with liability coverage. While renters insurance is typically not required, the cost is reasonable and purchasing a renters policy is a wise choice. The most common coverages provided by a renters insurance policy include: 1. Personal Property Protection. Most renters policies will cover you clothing, electronic equipment and other belongings. There is also limited coverage for watercraft, jewelry and guns. 2. Personal Liability Coverage. Liability coverage is standard on most renters insurance policies. For example, you could be covered in the event of a slip-and-fall accident on your property. 3. Medical Payments to Others. If a guest sustained injuries while visiting your apartment, you may be liable for paying a portion of his medical expenses. Medical payments to others coverage is included on most renters insurance policies. 4. Additional Living Expenses. If the home or apartment that you are renting is damaged by a fire, your renters policy could provide the money needed to pay for a hotel room or other temporary living quarters. A renters insurance policy may also qualify you for a discount on your automobile policy. So don't delay, stop by our agency and ask us about the many benefits of purchasing a renters policy.