Why Buy a Renter's Insurance Policy?
You may not own your home, but you own what’s in it, and it’s up to you to keep it protected. Have you ever considered the value of your furniture, television, computer, jewelry, clothes, and other items? For many people, they will likely add up to more in value than their automobile. Also, without renters insurance, what liability coverage do you have in the event someone is injured in your rental unit and sues you for damages?
The risks for our personal possessions are many: theft, vandalism, fire or lightning, tornado, damage from smoke, damage by broken glass, water-related damage from busted pipes... and the list goes on.
The most common misconception among renters is that they are covered under their landlord’s insurance in the event of fire or theft. Not so, as the landlord’s insurance covers the building and the infrastructure of that building and does not extend into the homes of the individual residents and the possessions they maintain in their units.
Renters insurance covers the items you have in your apartment, condo, or other rental home should those items be stolen, destroyed or damaged. Renters insurance doesn’t just cover property, it covers people too. It can help if an accident happens in your home. Your policy will pay for covered losses if you’re liable for injuries or damages to other’s property or have legal defense costs.
Give us a call at Morris & Spradlin Insurance Group and one of our agents will work with you to design a policy with the right coverage for your needs.