3 Reasons To Always Have Renters Insurance

Many people wonder if they should get renters insurance on a property that they renting. As a general rule you should always carry renters insurance. It is very dangerous to go without insurance. There are many things that renters insurance covers that you may not realize. Here are some reasons why you should always have renters insurance:

1. Insurance Will Pay For Your Personal Belongings

Assume that you are living in a rental home and there is a fire or the house is vandalized. The landlord would be able to access their homeowners insurance policy to get restitution for their property, but this policy wouldn't cover any of your belongings. You would need to have a separate policy that covers all of your belongings so that you can get coverage for the damage to the property.

When you purchase the policy the insurance agent will have you go through and estimate how much your property is worth so that if there is some sort of disaster you can itemize what you lost and they will pay you for it. Too many people who haven't gotten renters insurance regret it later because they see that accidents happen and they are stuck with thousands of dollars of damage without any coverage.

2. Insurance Will Give You Liability Coverage

Another important reason to get renters insurance is to have liability coverage. Assume that an accident was to happen on the property and you were sued for it. You would be personally liable for the costs of the lawsuit and the damages from it. If you have a renters insurance policy you can get liability coverage which will help you pay for the lawsuit, and for the damages that you might be found responsible for. If you don't have insurance coverage you could go bankrupt from the lawsuit.

3. Insurance Will Protect Your Things On The Road

Lastly, if you have renters insurance it will help to insure your things while traveling. Many times you can get coverage even while your things are packed up in a moving truck. That way if there is an accident, the truck is vandalized, or if for some reason you have a problem while moving, you can access the policy to get paid for the loss or damage of property. This is invaluable to people who have accidents while moving.

As you can see carrying renters insurance is very important. Contact a company like Willie Swims Ins Agency, Inc. for more information and assistance.