One of the most important insurance coverages out there is renter's insurance - and is one that relatively few renters have and even fewer know about, I suspect.
There are many, many people who rent and, true, many of those people may feel they little of value - maybe 2nd hand furniture and the like...
items that if destroyed or stolen, they'd think "so what?" Well, let's talk about that for a moment.
Let's say you have a 2 bedroom house or apartment.
You have beds and dressers and maybe some chairs in the bedrooms...
full complement of linens for both beds...
sofa, chair, coffee table, dining room table and chairs, book shelves..
and the smaller things like hair dryers, lighted makeup mirrors, coffee makers, microwave ovens,...
hey, maybe a big screen TV with one of those fancy sound systems.
Let's not forget our precious computers! And sporting equipment! How about all your clothes...
suits, shoes, sweaters, etc.
, etc.
? Now, the building catches on fire (apartment or single residence) and it all burns down around you...
all is lost.
Not to worry for the landlord - he has fire insurance on the structure.
His loss will be inconvenient but he will get his structure back.
But you? The tenant? Barring any untoward reason for the fire, your loss is yours alone.
You have no clothes...
no stuff...
and no way to be compensated for it.
Would you feel like the proverbial you-know-what out of luck? You should...
because you would be.
Doesn't have to be that way.
There is that wonderful policy called "Renters Insurance"...
most (if not all) companies offer it.
And what, you ask, does Renter's Insurance do for people who rent? Renter's Insurance is similar to Homeowners in that it provides coverage for contents - that's your stuff -and insures it against theft, fire, water damage, and the like.
So, that fire? You will have compensation to assist you in the replacement of your property.
Now, rather than being out of a residence AND a bed, you'll have a new bed for your new residence.
And if someone breaks in and steals your TV or your computer or jewelry? Not to worry! Renter's Insurance also provides that all important liability coverage.
Remember, that is the coverage that protects you in the event someone else hurts themselves in or around your rented home and it is determined that you are legally liable for their injury - not the landlord.
And, if you think you don't have anything worth someone suing you for...
better think again Renters Insurance tends to be very affordable and it is almost negligent on your part not to have this coverage if you are renting.
I am frequently advising you to call or talk to your agent.
I realize that some companies don't have agents, per se, anymore - rather, they have direct sales by phone.
That's ok.
These people on the other end of that phone call have the same knowledge and ability as the conventional insurance agent.
Ask them regarding your needs and they can direct you, answer your questions and satisfy your insurance needs just the same.
If you rent, look into renters insurance and gain some peace of mind!