5 Major Benefits of Purchasing a Renters Insurance Policy

There are a lot of people who dream of owning a house. But if you happen to be someone with a job that requires that you move around a lot or you don’t want to be responsible for house maintenance issues or even if you haven’t quite decided what kind of property you would like to ultimately own, renting an apartment or home might be the better solution for you.

And if you do decide to go this route, it’s important that you take out a renter’s insurance policy. If you’d a few reasons why this is a worthwhile investment, we have provided you with five of them below:

It protects your belongings. Although your landlord has taken out insurance on their property, what that policy doesn’t cover is your personal belongings. This means that if something like a natural disaster or fire happens, without renter’s insurance, you’re not going to be able to file a claim to buy some of the things that you may have lost. But if you do have a policy, you can get a check from your insurance company to purchase some (new) items again. (This applies to if you are the victim of a burglary too.)

It provides you with personal liability protection too. If you tend to do a lot of entertaining in your place, this is just one more reason why you should have renter’s insurance. Say, for instance, you throw a party at your apartment or house and one of your guests hurts themselves while they are there. If the injuries are so extensive that they decide to sue you, your insurance policy will cover these expenses as well (up to the amount that you pre-determined when you first took out the policy).

It may protect certain items, even when you’re away from where you live. Here’s something that you might be surprised to know: Did you know that there are some renter’s insurance policies that not only protect certain items that you own when you’re inside of your place but also when you’re away? For instance, if you have a digital camera, you take it to a concert and it gets stolen, you may have the kind of coverage that will replace it for you, free of charge.

It is an affordable form of protection. There are some people who do not get renter’s insurance because they feel that with the tight budget they already have, it’s simply another bill that they can’t afford. But the reality is that renter’s insurance is actually a form of protection that is extremely affordable. In fact, if you were to ask someone like¬†Jacob Probe State Farm Insurance Agent¬†about how much renter’s insurance costs, one of the things we’re certain he would tell you is that if you get your policy through the same company that you get your car insurance from, you might end up paying no less than $10-20 per month.

It is another way to establish credit. Remember that whether you choose to pay your renter’s insurance annually, quarterly or in monthly installments, it’s a bill and when you pay bills on time, that helps to establish your credit. And that’s just one more reason to get renter’s insurance because in paying your bills by their due date, it ultimately helps to increase your credit rating. For more insurance on renter’s insurance, visit ERenterPlan.com for a quote.