Many people decide on the option of renting their property. If you are renting your home, are your belongings insured against loss and damage? While many homeowners insure their properties, a surprising number of people renting their homes do not have renter’s insurance. Renters insurance, depending on the level of coverage you choose, is designed to cover your belongings against unexpected damage or loss. It also provides coverage for damage to a neighbor’s property and personal liability etc.
So, what are some of the reasons a tenant might decide not to purchase a renter’s insurance policy? One, big reason is that they think it will be too expensive. Interestingly though, renter’s insurance is very affordable and can even be less than $17 a month.
Another reason is that the tenant doesn’t think their possessions are worth having coverage for. But, think about the amount of money you would need to replace those possessions and you will see it really adds up. There are others that do not know renter’s insurance is available to them or they assume they are already covered under the homeowner’s policy.
Whatever the reasons are for not having renter’s insurance, it’s clear to see the benefits of having it and it might be a lot more affordable than you previously thought.
So, what are some of the reasons a tenant might decide not to purchase a renter’s insurance policy? One, big reason is that they think it will be too expensive. Interestingly though, renter’s insurance is very affordable and can even be less than $17 a month.
Another reason is that the tenant doesn’t think their possessions are worth having coverage for. But, think about the amount of money you would need to replace those possessions and you will see it really adds up. There are others that do not know renter’s insurance is available to them or they assume they are already covered under the homeowner’s policy.
Whatever the reasons are for not having renter’s insurance, it’s clear to see the benefits of having it and it might be a lot more affordable than you previously thought.
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