If you’ve updated your insurance policy recently, odds are that your agent has mentioned renters insurance. Many times, people feel like they don’t need this coverage because they think they don’t have a lot of valuables in their house, or that because they don’t own their home, they don’t need insurance on it. This is far from the case, and if you are renting an apartment and not carrying a renter’s insurance policy, you are leaving yourself wide open to an expensive lawsuit.
You see, not only does renters insurance cover all of the property inside your home, (that expensive TV you just bought, your son’s new PlayStation 4, your clothing, and all of the furniture you use every day) but it also covers your personal liability. If you accidentally hurt someone, they could sue you for any time they missed at work, their medical bills, and even for pain and suffering! This could add up to a lot of money. Thankfully, with a renters insurance policy, you will be covered up to your liability limits, which can range anywhere from $100,000 to $500,000!
This policy will also cover others that live in your house that appear on the lease, as well as any children that you have. So if your child is playing football with the neighborhood kids and hurts one of them, your insurance policy will make sure that you won’t be held personally liable. We all know that boys can get a little rough sometimes!
Finally, a renters insurance policy is cheap. You can have renters insurance for as little as $150 per YEAR. On top of the already low price, if you combine your renters insurance with your auto policy, you can get a huge discount on your auto insurance as well. Many times, when we write a renters insurance policy, the auto insurance policy goes down by more than the renters policy cost, so you SAVE money by getting more coverage! And honestly, what better reason is there than saving money? Next time you stop by Zawada Insurance Agency, ask one of our representatives about adding a renter’s policy to your insurance plan!