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Clients sometimes think they don’t need renter's insurance — “Nothing I have is worth that much,” they’ll say, or “I don’t have a lot of stuff.”

That’s how most people think of renter’s coverage: protection for stuff, and nothing more. After all, it’s inexpensive and it doesn’t even cover the structure itself. So how important can it be, especially if you don’t think you have anything valuable to protect?

 

Plenty important, because you have more to protect than you may realize. Here are three key financial protections a renter's policy provides:

Loss of use coverage. What would you do if a fire or other issue forced you out of your home? You’d have to find a temporary place to stay, maybe even for months — which might cost you more than your normal rent. Loss of use helps cover that and other additional expenses.

renters insurance fire

Personal liability protection. If someone trips and injures themselves in your unit, they could sue you. If your dog bites one of your guests, they might file suit, too. Yes, lawsuits happen — even among friends. Renters insurance can help cover legal expenses and even judgments against you. (Some dog breeds may disqualify you from coverage, so be sure to inform your agent of all dogs in the household.)

Personal property coverage. Wait, doesn’t this mean your stuff? Well, yes. But really, this coverage protects your finances. Even if you don’t think you have anything valuable, take a minute and mentally add up everything you own (note that if you do have any high-value items, such as jewelry or heirlooms, you may need additional coverage). Now imagine how much it would cost to replace it all. It’s probably a higher number than you thought — and that’s why renter's insurance is so important.

We hope this blog article helps you see the value of renter's insurance beyond just covering your stuff. If you have any questions about your current renter's insurance policy or would like to see about buying renter's insurance, please give us a call at 817-421-8866! We can search multiple renter's insurance companies at once, so you'll know you're getting a great deal on your renter's insurance. Ask us about bundling your auto and renter's and you could save even more!

We offer renter's insurance in Grapevine and surrounding areas such as Southlake, Colleyville, Euless, Bedford, Coppell, Flower Mound... well, anywhere in Texas, really! 

Reposted and personalized with permission from the original author, Safeco Insurance®.