Should You Have Renter’s Insurance

the PowerCD's current home
Creative Commons License photo credit: blakespot

If you’re renting a home and you don’t have renter’s insurance then you’ll want to pick up the phone right now and make a call to your local insurance agent. Renter’s insurance is an incredible bargain and can save you thousands of dollars and is actually pretty cheap.

Of course the cost of your renter’s insurance will depend on the value of the property you’re renting, the risks associated with the property, and the value of your personal items. But typically you can pick up a policy for a hundred bucks or even less.

One huge reason to pick up a renter’s insurance policy is you probably share the residence with at least one other person. You can be responsible for your own actions, but you can never tell if your neighbor is going to leave a cigarette burning and destroy the whole complex, or if they’re going to leave for extended period of time and a pipe may break, or maybe they’ll cause some malicious havoc that destroys your property. Whatever the case, you want to insure your property when its safety is at least partially dependent on another person’s actions.

Renter’s insurance comes with some other little benefits, it can cover you if you find yourself embroiled in a liability lawsuit. If you end up in a situation where you cause injury to another person or their property you can be found liable and with renter’s insurance, they’re likely to cover that expense for you.