Although it is not usually required, renters insurance is a good investment for anyone who rents property. But many wonder if it is needed. Anyone who rents property should purchase renters insurance to protect their belongings. Renters insurance policies help protect people from a variety of threats that may occur on their property. It is just as important as car and homeowner’s insurance, and in many cases can protect them from losing thousands of dollars in losses. Many policies protect belongings against everything from fire damage to vandalism. However, in some instances such as floods and earthquakes, property may not be protected and separate policies may need to be purchased in order to protect against those disasters. The first mistake many people make is thinking they do not own enough property for renters insurance to pay off. A student may not be worth as much as their parents taking into account student loans and credit card debt. However, the average student’s belongings can add up to thousands in replacement value. This money in property can be lost or damaged at any point, which could leave many without enough out of pocket money to replace it. In situations where an apartment is damaged by natural disasters, the landlord provides the insurance to the building itself; it does not cover the inside of the apartment. Say the roof is damaged from a hailstorm and water leaks onto someone’s beloved flat screen TV, ruining it. The apartment’s damage is covered by the landlord’s insurance but possessions inside the apartment are not. Without a renters insurance policy, the renter will be left with no one to help replace the TV, a tragedy to all. Furthermore, renters insurance helps protect from potential lawsuits against the renter. If someone is unintentionally injured on a property, the renter will be held responsible. For instance, say a visitor steps on broken glass and cuts their foot on the renter’s property, the renter could be responsible for injury and possibly face a lawsuit. Renters insurance could have prevented a situation like this from happening. Many policies provide liability coverage to any visitors who are injured on the property rented. Renters insurance is important for all, no matter the value of property involved. Purchasing a policy is as easy as visiting a local insurance agency to obtain a quote, a small step that could save thousands of dollars in lost property down the road. Many providers in the Carbondale area will be more than willing to assist in the purchase of a policy to meet desired needs. Although it would be best to never have to cash in on it, renters insurance will provide peace of mind from losing everything. For Carbondale Insurance Contact Mike Harris of Country Financial.

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