Why You Must Have Renters Insurance Before You Move In

The Importance of Renters Insurance

Moving into your first apartment is very exciting, but before you do so you need to make sure you have renters insurance. People who move into new apartments like to bring electronics and other personal possessions with them so they can feel at home. If you do not have renters insurance, you could end up spending a lot of extra money if something happens to these items. Take a look and see why renters insurance is a necessity for people looking to rent apartments.

Protect Your Personal Possessions

Woman Typing on Personal Laptop

The best reason to get renters insurance is because it can help keep your personal items safe. Your landlord will usually cover any damages for furniture and appliances already in the apartment, but any personal items are not covered. For example, if your laptop is damaged on your watch, your landlord cannot help you, and you will have to use your own money to replace it or fix it if you do not have renters insurance.

With renters insurance, you can protect yourself from losses if any of your personal belongings are damaged or stolen. To give another example, if you bring a TV when you move in and it gets damaged in an accident, the costs to fix it will be covered. If you plan to bring a lot of things with you to your new apartment, getting insurance is pretty much required.

Your Belongings Are Covered, Even While Traveling

Airborne Plane

Jumping off from the previous point, renters insurance can also cover losses on your personal belongings while you are out traveling. Theft is all too common, unfortunately, and there are plenty of people who are looking to nab things from people who are out traveling. Renters insurance covers losses on any stolen personal possessions, even if you are out of the state.

That way, if you return from your trip and discover that something important, like a wedding ring, has been stolen, your insurance will help cover it. Your insurance agent will offer a suitable replacement value so you can get the proper amount of money back. Without renters insurance, you would have to replace all the lost items with your own money, and depending on how much was stolen, this could be quite expensive.

Renters insurance can even help you if something gets stolen when you leave it in your car.

Helps With Emergency Housing Expenses

Opening Guest Door to Hotel Room

In a rare situation, you may have to leave your apartment and live in a different place for a short period. Natural disasters are extremely dangerous, and in the event that one occurs in your area, your apartment may become inhabitable for a short while if damages are severe. Renters insurance can help cover any expenses so you can relocate to a temporary home, such as a hotel.

Not only that, renters insurance will also cover other expenses, including food costs, while you are out of your apartment. You never know when something like this could happen, so it would be wise to have some insurance to help you just in case.

Covers Liabilities

Another benefit of having renters insurance is that it protects you from liabilities in several different cases. If something that belongs to you damages or breaks the property of another apartment renter, your insurance will help you cover the expenses. An example of this could be if your child accidently breaks a neighbor’s window with a baseball.

In addition, renters insurance also applies in situations where your property causes physical harm to another person. Any accidents that occur in such a way are also covered, and this can help you pay any necessary legal fees. These fees can get particularly expensive, so renters insurance can be an absolute blessing for this type of situation.

It Is Affordable

Counting Coins

There are lots of people out there who skip out on insurance because they believe it is too expensive. The truth is, however, that renters insurance is actually quite inexpensive. Most plans for renters insurance cost less than a dollar every day, so the overall cost for an entire year may be no more than a few hundred dollars.

Certain factors, like coverage, can affect the overall price for your insurance plan, but this does not change the fact that it is usually quite cheap to pay for. When you combine the cheap price with the amount of benefits you can get, there is practically no reason to skip out on renters insurance.

Garden Communities has partnered with Effective Courage to provide residents effective renters insurance.
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