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3 Reasons You Should Have Renter’s Insurance

Renting an apartment or house comes with its own perks. You don’t have a long-term commitment to the property. The landlord is responsible for any problems with maintenance. It’s a great way to live in an area on a trial basis to decide if it will be your forever home. Renting often saves you money on monthly housing expenses. Even with all of its benefits, you still need to take care of your own interests. Don’t overlook the importance of renter’s insurance.

You Need to Protect Your Personal Items

Renter’s insurance has one purpose, it protects the renter. In the event that you have damage to your apartment or home due to inclement weather, your insurance policy will provide you with reimbursement. Your policy can also cover anything that is on the grounds or in the garage. Your personal policy will all cover any losses due to theft. Failing to protect yourself will set you up for potential risks. While your landlord has insurance that covers the building you live in and the property, it does not extend to anything that belongs to you. Be sure to talk to an insurance agent to determine what the adequate amount of coverage will be for you. You should also inquire about a rider to safeguard any special collections you have, such as antiques, jewelry, or valuable artwork. A renter’s insurance policy by itself may not protect your collectibles.

The Cost of Renter’s Insurance is Much More Reasonable than Homeowner’s Insurance

When you choose to open a renter’s insurance policy, you are making an investment in yourself. You’ll also save money when you compare the cost of a homeowner’s insurance policy. Speak to an expert, such as a representative from Colby Insurance, to learn more about your options for premiums when it comes to your policy. You can also make arrangements for payment that suit you best. Your plan can be paid on a monthly basis, every two months, or quarterly, or you can pay upfront at the beginning of the term for your policy. Regardless of the expense, you are making an investment in yourself. You’ll also have peace of mind knowing you will receive compensation if anything happens to your belongings while living under your landlord’s roof. No one wants to be forced to replace items out of their own pocket. Your insurance policy will save the day when you experience damages that are through no fault of your own.

Your Renter’s Insurance will Also Include Liability

Liability isn’t only important when it comes to your automobile insurance. It’s a must when it comes to any type of policy that protects your residence. No one ever plans on being hurt when visiting your apartment or the home that you are renting. However, you may be held responsible if something takes place inside your residence. An accident on the property that is due to your landlord’s negligence, such as a broken step, an uneven sidewalk, or loose siding would be covered under the property owner’s policy. Anything in your residence, such as a trip, a fall off a chair, or some other mishap could come back on your policy. If you own a pet, you can never predict when a bite or scratch could happen to a visitor. Someone may experience a severe allergic reaction when visiting your apartment. Liability insurance will cover medical expenses and legal costs involved with any incidents that can take you completely by surprise. You’ll be thankful for your small payments for your policy when you learn what the final bill is for a hospital trip.


When you are getting ready to rent a home or apartment, you will have a long to-do list. You should do a thorough inspection of the property before making any official commitment. This is your opportunity to ask the landlord to make improvements or negotiate your rent. You can also inquire about any changes you would like to make, such as fresh paint inside the apartment. Before you sign on the dotted line, do your homework about a renter’s insurance policy. Compare quotes and coverage before you make a final decision about the policy that is the best fit for you.



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