It’s no secret that more people rent vs own their living space. And there’s absolutely nothing wrong with that! But most renters are missing something homeowners have an advantage of; they’re covered by insurance.
What is Renters Insurance?
As a renter, have you ever thought about what you do if a disaster hits? This means anything from a pipe bursting, an accidental fire, etc. What items would you try to save (other than yourself)? Unfortunately, we aren’t born with octopus arms so there’s a lot we’ll have to leave behind! Which means taking a big loss in the personal property department. But by adding renters insurance, you can have peace of mind in case disaster hits.
Great Tip: A home inventory will help speed up the insurance claims process! Be sure to invest the energy in creating an inventory list.
Most landlords nowadays actually require tenants to add on renters insurance. The landlord has their own policy but it really only covers damage to the property – their property. Again, your property isn’t covered with their policy. You’re probably thinking, “is that all it does?”
Who does Renters Insurance protect?
Renters insurance is designed to protect you! If there’s damage to someone else’s property you (or a disaster/accident caused) you have to pay for it.
Let’s pretend – You wake up in the morning and go to the bathroom to brush your teeth. Half asleep, you glance at your watch and see the time, it doesn’t click how late it is so you start the bath. The waters still running and you check the time again. Now it clicks; you’re running incredibly behind! You drop your toothbrush, change real fast, and bolt out the door. What did you forget to do (other than brush your hair)? Answer: You left the water running! Now hours are passing, the tub is overflowing, water is seeping to your downstairs neighbor!
At first, there’s a small swell in the ceiling for the but eventually that swell cracks. Your apartment and your neighbors is damaged, along with some of their items. What do you do now? If you have renters insurance, they’ll take care of the whole process.
Again, Renters Insurance Is Just Like Car Insurance.
Just make a quick phone call for the claim and they’ll walk you through the rest! So let’s recap; Renters insurance covers you if there’s a disaster (like a fire, tree falling, etc) and also covers your neighbors’ damages if there’s an accident (caused by you). Doesn’t sound like renters insurance is a bad thing to add right?!
ALSO – renters insurance can help you save monthly if you bundle it with your car insurance!
Speak With A Local Insurance Agent About Renters Insurance
We have insurance offices in Centerville (Dayton) Ohio, West Chester (Cincinnati) Ohio, and Northwood (Toledo) Ohio. If you have any questions please contact us today to discuss affordable Renters Insurance options!
