4 Reasons To Get Renter’s Insurance

rental apartment

Looking for your first apartment after graduating from school or moving out of your parents’ house? Congratulations! That first step out of the nest and into the big, wide world of your own place is exciting! You’ll never forget that very first place you called home on your own.

The last thing on your mind is probably renters insurance. However, when you’re just starting out, you likely don’t have a lot of resources saved to replace your belongings if something were to happen. Renters insurance is super affordable, and it gives you peace of mind that if anything were to go wrong, so you wouldn’t have to start from scratch to rebuild all you’ve worked so hard for.

So … what exactly is renters insurance? 

Renters insurance covers all your personal property that’s in your apartment. If there’s a fire, a flood, a tornado, or a break-in, renters insurance covers the replacement of everything you own, including your computers, cell phones, clothes, kitchenware, furniture, and more.

One reason many renters choose to skip purchasing renters insurance is that they incorrectly assume that their personal property is covered by their landlord’s homeowners insurance. Not true. Your landlord’s homeowners insurance covers the building itself, not what’s inside. If your apartment burns down or is broken into, you’re on your own to replace everything inside of it out of your own pocket.

Here are 4 good reasons to get renters insurance, even if you’re just starting out.

  1. You CAN afford renter’s insurance 

Renter’s insurance is much more affordable than homeowners insurance. Since the policy only covers the contents of a home, not the home itself, renters insurance policies are relatively inexpensive. The average cost of renters insurance is around $18 a month. Of course, that number can go up or down depending on how much coverage you want. But for the price of three Starbucks, it’s simply a no-brainer to protect your investment in your furnishings, clothes, computer, TV, and your life!

  1. It protects you from lawsuits 

Most renter’s insurance policies also include personal liability coverage that protects you from lawsuits. If someone is injured in your home and sues you, your renters insurance policy would pay out if you lose a lawsuit, up to your coverage limit.

  1. It covers you on road trips, too! 

Young life is all about traveling with your friends and making memories that will last a lifetime. Your renter’s insurance policy covers your belongings even when they’re not in your home. If you’re on a trip and your suitcase is lost, your phone is stolen, or your computer is dropped in a hotel pool (oops!), your renter’s insurance will cover them just like if you were at home.

  1. If your apartment becomes unlivable, it pays your living expenses somewhere else 

If a tree falls on your apartment and it becomes uninhabitable for the time it takes to be repaired, your renter’s insurance will pay for you to live somewhere else. If moving back in with your parents in an emergency doesn’t sound like a great idea, renter’s insurance is the way to go!

Need renters insurance? Call us. 

Edwards Insurance Agency in Taylors, SC, helps renters all over the state protect their lives with renters insurance policies that are affordable. Give us a call today.