What You Don't know About Renters Insurance

I have written many articles in the past about insurance. As well know insurance is a necessary evil. Whether it be car insurance, health insurance, home owners insurance ect… Nobody likes to pay insurance but unfortunately we all have to. In this article i'll be talking about renters insurance.

Renters insurance is something most people don't even know exists. Basically renters insurance is protection for those who are renting their houses, apartments, condos or any other type of housing. A lot of people seem to think that their landlords insurance will cover them if something terrible happens. This is not the case. The landlords insurance will cover the landlords property and only the landlords property. Your belongings won't be covered at all. So if your apartment got robbed or flooded your personal positions aren't covered. As you can see its definitely a good idea to start thinking about renters insurance. Being left to cover the expenses of all of your lost positions would be horrible.

Loss of possessions is not the only reason to think about getting renters insurance. Renters insurance will cover you if someone where to get injured in your home. I actually have a first hand story about this. One of my good friends was having a small get together. A friend of a friend had brought their daughter over. Now my friend has a big dog. The dog is a sweetheart but is still a big dog. Well this little girl ended up going off in a corner and playing with the dog out of sight from the adults. Nobody knows exactly what happened but the dog ended up biting the little girl. The parents of the little girl ended up suing my friend for close to $100,000. No lucky enough my friend had renters insurance. The insurance ended up covering all of the legal bills and the eventual settlement. My friend is by no means a wealthy man. He would have had no way at all to pay for this settlement. You can imagine how terrible it would have been if my friend didn't have renters insurance. He would be in the poor house right now.

This story is definitely not uncommon. People go through these sorts of issues everyday. Don't turn a blind eye to things you can't expect. It is a smart move to cover yourself as a renter. Renters insurance is usually very cheap. Its a small expense that can save you a lot of worry and money in the end. Its also very easy to get. Just call any of the major insurance companies like Geico or State Farm. They will usually have some sort of renters insurance for your situation. You don't want to wake up one day wishing you had taken the few minutes to get coverage. I promise you as a renter this will be one of the smartest things you have done.