Disasters Happen: 10 Reasons it Makes Zero Sense to Pass up Renter’s Insurance

The one kind of insurance far too many people overlook is renter’s insurance. They assume that if something terrible happens, like a fire or flooding, that their landlord’s insurance will cover them. That’s unfortunately not usually the case. In some areas of the country, apartment communities require renter’s insurance. Where it’s not required, there are many who regret not protecting themselves until it’s too late.

If there’s a fire in yours or another unit in your apartment building, you may have to stay in a hotel. The full cost of staying in a hotel indefinitely may not be fully covered by your landlord’s insurance, especially if the building didn’t go down in ashes. Renters insurance doesn’t just protect you against fires, floods and theft. There are other ways that this form of insurance can help you avoid financial pitfalls. It’s the most affordable form of insurance and one you’ll regret not having if you experience any of the following mishaps.

1.Your luggage disappeared at the airport. The airline couldn’t find your things no matter how thorough they were. Before you have a panic attack, ask yourself this: Do you have renter’s insurance? If you do, it’s not a complete loss.

2.Your girlfriend chips her tooth. So you had all your toys all over the place and she took a spill over your new guitar. Are you going to pay her dental bills or do you have renters insurance? If you have a breakage clause on your policy, the broken guitar may be covered too. Hope you kept the receipt.

3.You will be covered in case of a fire, floods and theft with renters insurance. Your hotel stay after a fire will be covered and everything you lost in the fire or resulting from smoke damage will most likely be covered too. The same goes for your upstairs neighbor’s pipes freezing then bursting and flooding your home. Or, maybe you forgot to turn off the faucet and flooded your apartment yourself. These things happen, but with renter’s insurance, it’s not something you have to pay for. No, it’s not the end of the world if someone crawled in through the window and stole your laptop…well, maybe, but it’s covered.

4.Your clothes disappear at the dry cleaners. That’s right, you can make a claim against your renter’s insurance and replace the ones that went missing.

5.You slandered your former best friend and she’s suing you. Yes, people get sued all the time now because of things they say on social media. Getting sued for slander is not fun. If you know you have a big mouth maybe you should protect yourself with renter’s insurance, which will cover your legal expenses if she takes it to a legal level.

6.You knocked someone down with your bike. You’re getting sued and you’re freaking out. Well, you don’t have to if you’re covered by renter’s insurance. You may not win the case, but your legal fees will be at least partially covered.

7.Your television gets destroyed. The power company came and did something to the wires outside and it fried your set. Do you just deal with it? You may have to unless you’re insured and can make a claim. Chances are you’ll at least get some money down on a comparable TV.

8.Your bike got stolen. That’s right. It didn’t even need to go missing on your property for you to be covered by renter’s insurance. If your handbag got stolen while you were in Spain, that’s covered too.

9.Your tablet in your car was stolen. Pretty much anything that gets stolen out of your car will be covered under renter’s insurance. Your auto policy only covers items permanently attached to your car.

10.Your dog gets nasty. It may cost you a bit more to get coverage if you own a breed that’s considered dangerous, but plenty of little dogs can get nasty too. If your dog bites your neighbor, you’re covered for the medical expenses. It’s much better than getting sued and paying for everything out of pocket. If your dog gets loose and destroys someone’s garden or patio, you’re covered too.

If you’re still unsure about why you should buy renter’s insurance, you can speak with an insurance agent who will go through the cost of coverage, which depends heavily on where you live. Just call (888) 772-4247. There’s even a callback option so you don’t have to wait. You may even be thrilled to find out your renters insurance might only tens of dollars a month, not hundreds.


The information in this article was obtained from various sources. This content is offered for educational purposes only and does not represent contractual agreements, nor is it intended to replace manuals or instructions provided by the manufacturer or the advice of a qualified professional. The definitions, terms and coverage in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.

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