3 Reasons You Need Renters Insurance

 In Insurance Advice

3 Reasons You Need Renters Insurance

Renting used to be mainly for twenty-somethings just starting their career. Now, many people rent for much longer of their life to avoid the mortgage crisis or the upkeep of an owned property.

However, renting can come with challenges. It’s still important to protect your assets, which is why you need renters insurance.

1. It helps you protect yourself and the things you own.

It works the same as homeowners insurance, but it is tailored to renters. Landlord’s insurance doesn’t cover you and your stuff, too. It only covers them and their property – not yours. Renters insurance covers several things:

  • Personal possessions – clothes, furniture, etc.
  • Personal liability – for any injury or damage on your property
  • Medical payments – any medical expenses for someone injured in an accident at your property
  • Additional living expenses – any temporary expenses if your property is damaged and unlivable 

2. It fills any coverage gaps.

For example, if you were to leave a laptop or expensive item in your car overnight and someone steals it out of your car, your auto insurance would cover the broken window but not the laptop in most cases. With renters insurance, you would get help replacing the stolen laptop.

3. It’s extremely affordable.

While many types of insurance can look pointless due to cost, renters insurance equates to less than half a dollar a day, even lower when added to other existing policies in a bundle.

Weather damage, fires, and theft can all happen while renting and are just as likely as in a house. Make sure you’re covered.

Travelers Insurance or Progressive Insurance are some of our top carriers for a renters policy.  Call us at 417.882.1800 and talk with one of our qualified agents today.

We are not permitted to offer, and no statement contained herein shall constitute, tax or legal advice. Individuals are encouraged to consult with a qualified professional before making any decisions about their personal situation. We are able to provide you with information but not guidance or advice related to federal benefits. Our firm is not affiliated with the U.S. government or any governmental agency. Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and The Resource Center are not affiliated companies. AW12175556

 

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