When you think of insurance for your home, the natural assumption is to think of homeowners insurance. Owning a home isn’t the only time in which you should consider insurance, however. Whether you live in an apartment, a condo, townhouse or you rent your home, renters have the option of insuring their belongings, as well. That is where renters insurance should come to mind. Reed Street wants to help familiarize you with its benefits.
Along with the other types of insurance that Reed Street offers, we want to give our clients the option of different insurance companies that we partner with, to provide renters insurance that best fits your needs and price points. If you’re considering insuring the residence you rent, here are a few reasons why renters insurance can be beneficial.
- Protection from theft. Unfortunately people suffer from theft all of the time, renters are not excluded. If personal items are listed on your policy, your insurance provider can protect them in the event that they are stolen. Protecting in the form of replacing stolen items, which takes the price tag off of your hands.
- Protection from fire. Something that is uncontrollable, such as a fire or any natural disaster can happen, causing damage to your home and possessions. Renters insurance not only covers the replacement of items lost but it can also protect landlords from assuming responsibility.
- Protection from damage you cause. Items that are damaged due to not being secured properly, water damage (water overflow) or items that are accidentally broken under your care can be protected and replaced.
- Guest injury. If a guest of yours slips, falls or has another type of accident, which leads to an injury, the blame could be placed on you resulting in possible legal fees or medical bills that you may have to pay on your guest’s behalf. By being insured, your policy covers medical bills among other expenses if a guest of yours is injured.