Benefits of Renter’s Insurance that You May Not Have Considered

Benefits of Renter’s Insurance that You May Not Have Considered

If you’re renting a space or are looking for one, you probably already know a little about renter’s insurance. Renter’s insurance is a good idea because your landlord’s insurance won’t cover you and it’s a protection from liability in cases of accidents, theft, or natural disasters. Help avoid financial losses by getting a renter’s policy that’s affordable and fits your needs. Here are some great reasons you may not have thought of for getting a renter’s insurance policy:

  • Guests are protected – an important detail if you have pets. If you have a guest on your property and they get accidentally bitten by your pet, renter’s insurance can come in to help with such an injury. Additionally, if you have a guest who trips and falls or gets cut or any other injury while on your property, renter’s insurance can come to the rescue in those cases as well.
  • Protect specific valuables. It’s always a good idea to protect your valuables from theft, but you can go a step further and take out a policy on a specific valuable to safeguard something that’s truly sentimental in both monetary value and personal value. If you have specific treasures in your possession, consider a specific policy for it.
  • Fire protection for short circuits or electrical problems. Your landlord should have a policy that covers the structure in case of damage from a variety of disasters. However, short-circuit problems or electrical fires stemming from the renter’s actions are likely not covered in their policy. Getting renter’s insurance can help cover any fires from electrical issues that may have been caused by the renter’s accidental negligence, such as a kitchen mishap or an electrical device issue.
  • Coverage for damage caused during rental. It’s inevitable—you probably will cause some sort of damage to a rental property by basic wear-and-tear. Maybe there’s carpet staining from spills or a broken window during the moving process. Whatever the case, unintentional damage can still be yours to cover. With renter’s insurance, you can get help covering costs of necessary repairs or replacements.
  • Coverage for extended theft, such as items in a trailer or a car. If you have a trailer or a vehicle that you store quite a bit of stuff, a common instance in Utah with many of us keeping our trailers stocked and ready to go camping each weekend, the valuables in those vehicles can be covered with a special rental coverage. Create peace of mind with everything you store on your property, but not in your property with an extended theft policy.
  • Cover temporary housing costs during emergencies. These policies usually come with a maximum amount of benefit, but if there is an emergency that requires you to temporarily stay in a hotel or eat out every day, you can get reimbursed for those unexpected and necessary costs with special coverage. No one wants to be urgently displaced from their home, but if this does happen, you can feel better knowing you’ll get help paying for this unfortunate situation.

For any questions about renter’s insurance or any other policy, reach out to us today.