For the majority of the people, the American dream is to own a pretty nice house in the suburbs. Complete with a white picket fence and good looking front and backyard. We all know that saving to buy a home can take a couple of years. The dream will come true but it will take a couple of years. So if you are one of the 35 percent of Americans who rent and are not kinda ready to invest in buying a home. So until that day comes, a good option to consider is getting a renters insurance to cover your personal belongings while you wait.
Most of the times’ renters misunderstood that the insurance from their landlord will cover their personal property in a case of a burglary or a fire, which is not true. With the landlord’s insurance, only thing that is covered is structural damages. So you need take matters into your own hands and purchase your own policy to cover your stuff, like clothing, furniture, jewelry, and electronics.
The good thing about renters insurance is that the price is just a fraction of the cost that a homeowner may pay. Another good thing is that you may be covered in more ways than you realize, which it makes renters insurance a no-brainer and hard to pass up. So check out these 5 surprising things protected by renters insurance.
Tips For Renters Insurance
1. Your property (wherever the loss occurs)
Did someone steal your iPhone while you were on a vacation in Miami? What about those brand new headphones that someone snatched from your bag at the gym? Most of the renters’ policies cover your personal property wherever you are. You might have to show proof of ownership to your insurer if you need to file a claim. All you have to do is save your receipts and take some photos of your valuables before a loss occurs.
2. Medical payments if a friend gets injured at your place
Let’s say you have a party at your place with your friends on a Friday night. The vibes are nice with good music and everyone is having fun. But there’s that one friend that gets too excited over a win on table tennis. Then he circles the table for a round of high-fives, failing to notice your ottoman, which he then trips over, fracturing his wrist. So if you have your renters insurance you don’t have anything to worry about! Most likely his medical payments will be covered by your renters’ insurance.
3. The stuff in your dorm while you’re living on campus
If you live in a college dorm room you are most likely covered by your parents’ renter (or homeowners) insurance. If there is some kind of damege in the building that can destroy your computer or your smartphone is stolen from a classroom, your parents most likely can file a claim on your behalf. So you probably won’t have to purchase your own policy.
4. Items in your car
Your auto insurance often protects your vehicle from bodily damage. But what if your valuables get damaged or stolen? Renters insurance will mostly protect your personal property that’s in your car, even if you’re not parked at your home during the time of loss.
5. Temporary housing if your building is being fixed after a disaster
You can never know when something bad can happen, like your neighbor accidentally starting a fire in his apartment. The landlord will need to repair the building, but if you don’t have renters insurance, there is something you need to be prepared to do. Which is paying the bills for your hotel room.
Interested in getting more information on renters insurance? Get a free quote or call 1-(888) 546-1099