David Kirkpatrick

May 22, 2009

Making a case for renters insurance

Filed under: Business, et.al. — Tags: , , , , — David Kirkpatrick @ 3:23 pm

I’d hazard a guess most renters don’t carry renters insurance. I know all the years I rented apartments and houses not once did I have insurance, and it was a bad idea. Suffered one break-in through the sub-par back door of a rental house, and got lucky to never have any damage or loss due to fires or flooding in all the places I lived before buying a house.

Here’s an article from WeCompareInsurance.com that outlines why renters insurance is a good idea. And not to mention it is very cost effective for the security renters insurance provides.

From the first link:

Carrying renters insurance may rarely be a provision in a rental agreement, but protecting your possessions and yourself against liability through renters insurance is a very good idea for a number of reasons. Your landlord will likely have a commercial property or homeowners insurance policy on the structure you are renting, but that policy does not cover your possessions such as furniture, clothing, electronic equipment and other belongings. Beyond protecting your property, the liability provision in renters insurance protects you against legal action for personal injury or property damage caused by you, members of your family and even your pets. Even though renters insurance is relatively inexpensive it does pay to compare renters insurance policies to find the best deal.

One of the best reasons to carry renters insurance is there are many factors affecting your household that are largely, if not completely, out of your control as a renter. These include the upkeep and overall condition of your rented house, condo, apartment or other structure, and who might be living around you. Renters insurance helps protect you from loss from any problem arising because of one of these elements.