Renter’s insurance should never be considered an option or a luxury, just a simple fact of life if you’re a renter. The following are good reasons to buy renter’s insurance, but you shouldn’t even need convincing, it’s such a simple choice.
Renter’s insurance is really very inexpensive, for just a couple hundred (way less than your car insurance) you’ve protected all of your property from potential damage or complete loss. Over the course of the year this is really a negligible cost for the peace of mind you’ll receive.
It’s Not Just You
In most situations, renters share property with other people, people who may not be as responsible or diligent as you are and they can cause damage to your property, it’s totally out of your control. But on the other side of that argument, you may be the one who causes damage to someone else’s property (imagine a fire that’s your fault) and you’re suddenly responsible for all of their damaged items. Renters insurance protects you from this expense.
It’s Your Money
You may falsely assume that any damage to property, be it yours or someone else’s, or injury to someone will be your landlord’s responsibility. This is simply wrong in most cases. If the damage or injury happens on your rental property or due to your negligence you’re the one who will be held responsible and have to pay.
Protect the majority of your assets by spending a little on renter’s insurance. It really is one of the most important investments you can make.