If you rent a home or an apartment, getting renter’s insurance is an absolute must. This is not one of those optional things that are generally a good idea to get, it’s one of those things that you absolutely have to get, no matter what your financial situation is and what assets you have.
Renter’s insurance is essentially insuring against the loss of your property inside of your apartment. If your apartment or rented home were to flood, be lost to a fire, be stolen, or otherwise damaged, there will be money there to replace those items. Usually renter’s are people with less assets and financial stability than homeowners, so if they were to lose all of their stuff, chances are they would face a huge financial hardship. If you rent an apartment or home, and don’t have renter’s insurance, you need to go out and get it by Friday. These policies are only a few dollars a month and will keep you protected if your possessions were to be destroyed or stolen.
Even though renter’s insurance is an absolute necessity, there are a lot of renters out there who don’t have this vital policy. A new survey by Trusted Choice tells us that 25 million families out of 35 million families that rent don’t have renter’s insurance. Only one third of people that should have renter’s insurance actually do. This needs to change. These people don’t have anything for insurance against a fire, against theft, or a whole myriad of things that could happen to a rental property. All it would take is a washing machine to break down and flood the home, causing thousand of dollars worth of damage to everything you own.
The fact is that you just don’t know what could happen to your apartment or home that you rent, and we have to accept that there are risks out there that we need to insure against. Get renter’s insurance if you don’t have it.