An estimated 66% of Americans that rent don’t have renters insurance. And why would you want it anyway? It’s probably ridiculously expensive and YOU don’t own the place so what’s the point? The landlord should have insurance right? Well… truth be told according to the National Association of Insurance Commissioners, the average render’s policy costs about $185 a year and while your landlord has insurance, it most likely only covers THEIR property and not yours. It also probably doesn’t cover liability if someone else has an accident or has property damaged at the building you live in. These are all things where renters insurance can help protect you.
If there’s any damage to your property from fire, weather, break-in, or other disasters your renters insurance can help you recover those costs. You may think you really don’t own much, but when you look around your place it’s easy to start adding up some serious value. Things like electronics, computers, musical instruments, clothes, jewelry, and furniture can all be covered by renters insurance.
Insurance is one of those things we all hope we never have to use but are always glad we have it when the unexpected happens. If your budget allows you may talk to an insurance agent and find out what options are available to protect yourself and your things if a disaster ever strikes.