I have heard more than I want to count, “I don’t have much, or what I do have is not worth much”.
That’s what most clients think renters insurance does: protect what you have and nothing more – but it does way more than that.
Here are three financial protections that a renter’s policy offers:
1. What happens if you were forced out of the place that you call home? You would need to find a place to stay, right? Well renters insurance helps with that. It’s called Loss of Use, and this helps pay for temporary housing (most policies either go by a dollar amount or time frame).
2. If someone is hurt at your place, they could sue you. Who pays for that? Or if you have a dog, and they happen to bite someone, who pays for that? Lawsuits are a real thing and it seems like they happen more and more in today’s world. Personal liability comes with renters insurance and that can help you protect yourself from the unknown. (I recommend going with 300K, or more).
3. Let’s say you’re out mowing and shoot a rock out and hit the neighbors truck window, or your at a friend’s house and knock their TV off the wall, or even if you’re on the golf course and hit a errant shot that damages someone’s house. Did you know that those items could be helped paid for by renters insurance? Yep, under damage to others property (this is up to specific dollar amount).
So, not only does renters insurance protect the items that you own but from other everyday risks that could hurt you financially.
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