What is Renters Insurance

Approximately two thirds of the people renting homes in the United States do not have Renter’s Insurance. Most of them mistakenly think that it would cost too much or that their belongings just aren’t worth that much. Interestingly enough, when they begin to list the value of what they own, many claim that their belongings are worth around $10,000. You can choose the type of coverage that meets your needs.

Renter’s Insurance can save you thousands of dollars in the long run. It will cover such things as:

*Theft of items in your home or car

*Damage caused from water, smoke or fire

*Temporary housing in case you can’t live in your rental home while it is being repaired

*Property in your home that belongs to someone else

*Legal representation and protection against lawsuits in case someone is injured while visiting in your home.

Most rental insurance policies replace your belongings at replacement value and not the depreciated value. You will never have to worry if something happens unexpectedly, because it is already taken care of. Remember: Always expect the unexpected!

Many renters mistakenly presume that the landowner will have insurance in case of theft, damage or liability. The landowner’s policy will protect the landowner and his property, but it will not cover your personal property or accidents that occur to someone visiting in your home. Renter’s Insurance protects your possessions and your guests when you rent a home.

Incredible as it may seem, Renter’s Insurance will cost you just pennies a day. In fact, your piggy bank probably has enough change in it to pay for your policy the first month. Talk with the agent about your specific needs, and he will guarantee you the lowest price possible. You can choose which things you want to insure and what you prefer to assume the responsibility for yourself. There are many ways to make your policy fit your pocketbook even during an economic crisis.

Here are several factors that can make your insurance cheaper:

*Safety equipment such as fire alarms, indoor sprinkler systems and burglar alarms in the rental home

*Increasing your deductible

*Your age

Don’t wait until you suddenly discover that your house or apartment is on fire, that the main water line has burst or that a thief has broken into your house and carried off that brand new, top of the line, television set you just bought to consider your need for Renter’s Insurance. Licensed insurance agents are ready to give you a quote and answer your questions. Be wise. Buy Renter’s Insurance now, before it is too late.