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5 Reasons to Carry Renters Insurance

By August 18, 2020Personal Insurance

Renters insurance is a good idea to have when you’re someone’s tenant. Here’s why:

1. It protects your property
Renters insurance is the equivalent of homeowners insurance for tenants. If you have renters policy, your possessions will be covered if they’re damaged or destroyed. When you’re living in someone else’s property, you may not have a lot of control over the property itself, but you can protect your stuff if something goes wrong.

2. It protects you if something goes wrong in your home
Renters insurance policies include liability coverage. This means that if someone comes to the home that you rent, gets injured, and takes any legal action against you. Some policies may also cover medical expenses of anyone who gets injured in your home. Accidents happen all the time but having renter’s insurance will give you one less thing to worry about.

3. It protects your ability to have a roof over your head
Some renters policies cover the cost of alternate housing if the home you occupy is damaged or destroyed. A “loss of use” policy will cover the cost of a hotel, food, and other living expenses while your home is repaired or rebuilt after damage.

4. It protects you from a host of other issues
Someone breaks into your home, steals your credit card or check book, and goes on a spending spree? Covered by renters insurance. You borrow your friend’s tablet and a pipe bursts in your home and destroys it? Covered by renters insurance. There’s a power surge in your building and all your lamps and lightbulbs are destroyed? Renters insurance covers it.

5. And finally… it’s cheap!
All the benefits mentioned above will likely cost you less than $20 per month. Even more, if you bundle a renters policy with your auto policy, a lot of times the discount covers the full price of the policy!

Reach out to American Insurance today to discuss renters insurance policies that are right for you!



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