Why Renter’s Insurance is Important and Why You Should Get It?
What if you had a fire or a flood, or worse what if your neighbor had a fire or flood? In a traditional home, that might not be in issue, but if you are renting in an apartment building then that smoke or water could seep into your home from neighboring units. No one wants their home to smell mildewy or smoky and better yet no one wants to sleep in a bed or wear clothes that reeks of smoke.
Apartments are the one place where having insurance not only protects you from your own accidents, but also the accidents of others in your building. Why have renter’s insurance? Because you can’t control your environment when you have neighbors so close.
You might be thinking…
I don’t own it.
I don’t have that much stuff.
It’s too expensive.
You don’t own it.
Renter’s get labeled as people who don’t care for their surroundings that well. Having a “I don’t own it” mindset can make life missable to someone else who is trying to make that place home. It’s also the reason that careless accidents may occur. When people don’t care about their surroundings, they become complacent and that can cause disaster for all tenants. You may not own the building, but you do own your personal possessions. The beds you sleep in, the furniture you sit on, and the clothes and dishes you use everyday. If you think I don’t have that much stuff? Then think again.
I don’t have that much stuff.
When you live in a home for so long you start to accumulate items at a rapid pace. Unless you move every year, you probably have more items than you think. Think about if you had to replace each item in your home, what would that cost? It adds up trust me. Clothes, furniture, mattresses, dinnerware, you name it, and that's not including the bigger ticket items such as TV’s and computers. If you have any of those items then Insurance is a must, and increase your premium as well if you have more than the average household.
It’s too expensive.
If you don't have insurance because it's too expensive then think again. Since renter’s insurance mainly covers your contents it’s not that expensive. You can get a policy that covers up to $50,000 for as little as $10 a month. If you're buying a coffee everyday then you can afford renter’s insurance and if you don’t have renter’s insurance and you get coffee everyday then you might want to reconsider your budget. Having a small plan is better than no plan but consider what you have and what you use everyday. If you are a musician and have lots of gear or a mechanic that has lots of tools, consider a higher limit, it’s only a few more dollars anyway.
As disaster strikes you also don’t always have to replace everything you own. Some things might not be affected or maybe they can be cleaned. In the event of smoke damage it might just be a strong order or light stains. Cleaning can take time, but when you have insurance they will pay for a team to come into your home inventory items, clean everything, and return everything good as new. It’s not only cheaper to restore items over replacing, but if anything is sentimental you can get that back all cleaned up with having to do a thing.
I hope if you are a renter that you consider getting insurance. It will save the headache if a disaster occurs. We all hope one never occurs, but it’s important to be prepared. You never know when your neighbor might forget to turn off that stove or blow out that candle. Call your local insurance agent or go online and get one today.