If you rent a house, apartment, or condominium, renter’s insurance is a good buy. Why? It protects your personal possessions and you. It keeps a roof over your head when named disasters strike. It’s not a budget buster, as ballpark monthly premiums typically range from $10. to $20.
What do you have that needs protection?
Many of us have more personal possessions than we realize. Walk through the home you rent, open closets and cupboards. You’ll find you own and use a lot of stuff. Furniture. Computers. Television sets. Appliances. Pots. Pans. Dishes. Silverware. Clothes. Shoes. Jewelry. Artwork. Musical instruments. Golf clubs. Bicycles. You may have more or less. Consider the full value of all your stuff, or contents, as we say in insurance lingo. It easily adds up to five figures or more, which exceeds the amount of accessible savings many of us have. How would you pay to replace all your stuff, if it were lost or damaged due to a disaster, such as a fire? On a less dramatic scale, theft from residences of routine items like electronic devices and expensive kitchen equipment is common. Or, you could be visiting the local coffee shop, leave your table for just a minute, and come back to find your laptop is gone. Renter’s insurance, subject to policy terms and conditions, is the affordable answer. Depending on individual value, some contents should be separately scheduled.
Why do renters need protection?
Whether you own or rent the place you live, you are legally responsible for activities that occur on the premises with your permission or at your direction. A simple example of a potential occurrence for which a renter could be legally and financially responsible is payment of medical bills due to injury sustained by a neighbor tripping over a rug or toy in your apartment. A more extreme occurrence might be damage caused to your landlord’s property by an unruly houseguest. You may be held responsible for whatever damage is caused by him/her. Renter’s insurance helps to reduce your risk from legal liability exposure and frees you from the trap of “coulda, woulda, shoulda”.
Where will you sleep?
Most of us never think twice about where we will sleep. If you lose the roof over your head, you’ll have to do more than think about it. You’ll have to find a place … and quickly. A friend’s couch or mom’s spare room may be an option, but perhaps not the most workable. In the event your rented residence becomes unlivable due to an insured loss, Loss of Use renter’s insurance pays for relocation and additional living expenses (subject to policy terms and limits).
We understand you work hard for your money and your personal possessions. Richey-Barrett Insurance is your Trusted Choice Independent Insurance Agent to contact for affordable and practical Ohio Renter’s Insurance.
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