The Importance of Buying Renters’ Insurance

After moving out of your college dorm, your parent’s home, or relocating to another state for work, you would want to start looking for a nice apartment to live in. Once you’re settled, the next thing you should do is buy a renters’ insurance policy. If you’re wondering what that is exactly, here’s everything you need to know:

It Provides Protection for Your Belongings

Living in a rented apartment means that you’re staying in a place owned by someone else. Your landlord or landlady will likely already have insurance for the property. So why would you still need renters’ insurance?

Imagine a fire engulfs the apartment. After the flame is put out, your landlord or landlady can file for an insurance claim and receive money to repair or replace the property. You, on the other hand, will have lost all of your stuff but won’t get any compensation.

In a nutshell, you need renters’ insurance to protect your own belongings. When you have one, and the apartment catches fire, you can have peace of mind knowing that your policy will have your back. Your insurance company would give you money to repair or replace your burnt belongings.

Some policies may even have coverage that gives you a place to stay in while the apartment is still uninhabitable, along with food allowance. Apart from fires, insurance can also protect your belongings in the event of water damage, raging storms, and even tornadoes.

Renters insurance can also be reliable when the apartment gets burgled. After filing a police or incident report, you will receive money to help you replace your stolen items.

It Will Help Pay for Medical Bills After an Accident

Insurance can also help you when your guest gets injured or hurt while inside your apartment. Policies with personal liability coverage can shoulder your guest’s medical expenses.

What Does a Renters’ Insurance Policy Cover?

By purchasing renters’ insurance, you can worry less about your stuff getting stolen or engulfed in a fire. This is because your policy can provide coverage for your precious belongings, such as your clothes, jewelry, furniture, appliances, and even gadgets. You also won’t have to shed huge amounts of money in the event that your friend gets hurt inside your apartment.

And the most amazing thing about renters’ insurance is that your stuff is covered even if you are traveling and are away from your apartment. Just keep in mind that before buying one, carefully read what your policy truly covers and don’t hesitate to ask your agent questions.

Talk to Farmers Union Insurance

If you’re planning to buy insurance, turn to none other than Farmers Union Insurance. Our policy includes personal liability coverage, property damage to others coverage, replacement cost on your damaged items, and more. So what are you waiting for? Give us a call today!

* this is not a summary of coverage please review your policy terms, conditions, and exclusions