5 Reasons You Need Renters Insurance
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Posted by Mike F. on October 14, 2015 in Home Focus

According to a 2014 poll by Insurance Information Institute, 95 percent of homeowners have insurance, but only 37 percent of renters carry insurance. While renters insurance may not be required at your apartment, there are several important reasons to protect yourself while renting. When you live in an apartment complex, all your neighbors are potential risks, so even if you take precautionary steps, you need to be prepared in case your next-door neighbor isn’t as responsible.

 

Top five reasons you need renters insurance today:

 

  1. Protect your stuff - Renters insurance will pay for your items in case of a loss (from fire, theft, water, and more).
  2. Your possessions are likely worth more than you think - Your expensive items, such as televisions, furniture, and video game systems, can be covered and replaced in case of a loss. Often time’s people have possessions worth tens of thousands of dollars without realizing it. Renters insurance can give you complete peace of mind.
  3. Your landlord is only responsible for the building - Your landlord is responsible for fixing any structural damage caused by catastrophic events, but he or she is not responsible for covering any of your belongings. If a tornado were to hit your apartment, your landlord would rebuild the structure, but all of your personal items would be lost—unless you have renters insurance.
  4. Protection in case someone is hurt while in your apartment - Renters insurance will provide you with liability insurance in case someone is injured while in your apartment. Most policies will provide at least $100,000 of liability coverage and $1,000 to $5,000 in medical payments.
  5. It is affordable - The average policy only costs $186 annually – that’s just a fraction of most cell phone bills at less than $16 per month – according to the National Association of Insurance Council.

 

Getting renters insurance gives you complete protection and peace of mind—all for a small price! Not to mention, packaging renter’s insurance with your auto insurance can increase your savings. To learn more about renters insurance and how Acuity makes insurance simple, get an online quote today or call one of our independent agents

 

Mike F.
Mike F. knows ACUITY and insurance inside and out. He has more than 36 years of insurance industry experience, including 29 years at ACUITY. His expansive knowledge of home insurance makes him a valuable resource. One of his favorite things about the insurance industry is helping people recover from low points in their lives and getting them back on their feet. If he is going on a trip, you’ll likely find him somewhere warm and sandy


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