If you’re planning on renting or currently rent your home, it’s of the utmost importance to invest in renter’s insurance. Unfortunately, some renters are under the impression that their landlord will cover the loss of personal property should something go wrong, but this couldn’t be further from the truth. If you lose personal property due to fire, theft, vandalism, or a host of other unfortunate scenarios, you are solely responsible for your loss. Renter’s insurance could save you from having to start from scratch, and even though the odds are in your favor that none of these devastating problems will ever occur, don’t gamble on your possessions. A devastating loss can happen to anyone, anywhere, anytime, and never make the mistaking of thinking that it can’t happen to you.
A devastating fire recently broke out in a Ft. Wayne Indiana apartment complex, and two renters were interviewed on the local news after the fire completely destroyed their homes along with all they owned. One of the men didn’t have renter’s insurance, and since the fire, he has spent countless hours sifting through the rubble to find anything of value he can salvage. He expressed tremendous regret for not taking the time to invest in renter’s insurance, and he urged all renters to insure their belongings. Since we can’t predict the future, as in this man’s case, going without renter’s insurance clearly isn’t worth the risk.
The other man who invested in renter’s insurance and also lost all he owns is expecting a check from his insurance company in the amount of $30,000, and he will be able to replace the majority of his belongings. Although he managed to find a few salvageable items, he isn’t as concerned about picking through mounds of rubble since he’ll be able to start over with all new furniture, clothing, and other necessities. Some items can never be replaced, but at least he has the opportunity to quickly overcome this overwhelming financial loss.
The Cost of Renter’s Insurance
Renter’s insurance is much less expensive than most people realize. A typical $20,000 policy with a $250 deductible costs around $20 a month, and considering what can happen, this is money well-spent. Knowing that your belongings could be covered for less than the amount of a daily cup of coffee purchased from the corner gas station, why wouldn’t you want to invest in renter’s insurance? It can happen to you.
Securing Renter’s Insurance
Consider shopping online from the comfort of your home for renter’s insurance to meet your needs and your budget. If a $20,000 policy isn’t enough, look into securing a $30,000 policy. Insurance policies for renters are available with various deductibles, and you can find exactly what you’re looking for when shopping online. You’ll more than likely need to know when the rental unit was built, how many units are connected with yours, and whether it’s a masonry or frame structure. Don’t wait to insure your belongings while renting. The $20 or $30 you’ll spend each month will give you peace of mind, and if your belongings are ever destroyed in the home, you’ll realize it was the best investment you ever made.