When you are a renter, you might not think that you need to have renters insurance, but the fact is, this insurance is a good thing to have. You want to make sure that you get renter's insurance for several reasons.
Homeowner's Insurance Won't Cover You
In many cases, even if your landlord has some kind of homeowner's insurance, you aren't covered. That means that if something happens to the building or home you are living in, the landlord will get recompense for their losses and damages, but you won't. So, if you have anything that was damaged, you are going to be out of pocket for it. That can end up getting really expensive for you. Renter's insurance can help you with those losses and damage to your personal property, apart from what the landlord may be getting for their own damage.
Landlord May Require It
Another reason to get renter's insurance is that your landlord may require you to have it. Your landlord may have several reasons for wanting you to have it, including discounts on their own homeowner's insurance. If your landlord does require that you have it, then make sure that you talk to them to see if they have any minimum insurance requirements that you have to meet in order to make them happy. They may also require proof that you have started a policy. That should be easy for you to do, just show them a copy of the insurance policy that you will get from the insurance company.
It May Cover Additional Costs
The nice thing about having renter's insurance is that it may cover other costs that you incur. For example, if something has happened to your home or apartment building, you may have to stay at a hotel while you are dealing with whatever happened to your living situation. Those costs can add up quickly, but your renter's insurance may be able to cover those costs for you. Even if they only cover part of those expenses, it's less that has to come out of your pockets.
If you are going to rent a place to live, you should think about getting renter's insurance. There are several reasons why you should consider this kind of insurance. It just makes a lot of sense for you to check out the insurance and to get the most coverage that you can possibly afford.
If you have additional questions about renter's insurance, reach out to a company like Woodmansee Insurance Inc.