4 Reasons for Getting Renter's Insurance

​You might wonder why there are only a few tenants that have insurance. It’s usually due to people assuming that their landlord’s policy also covers them. However, even if you think you need insurance, here are four good reasons why you should invest in one.

1. Affordability
   According to the National Association of Insurance Commissioners (NAIC), a renter’s insurance policy costs over an average of $187 annually. Some factors, such as your chosen type of coverage, deductible amounts, where you live, and the amount of coverage you need, will significantly affect your actual cost. For those who live in Mississippi, you’ll have to pay the most expensive policy – about $252 a year. While those in either North or South Dakota only spend an average of $117 in a year.
   
   
2. It Covers Losses to Personal Property
   Having a renter’s insurance policy will protect you against damages and losses to personal belongings, including jewelry, electronics, furniture, clothes, computers, and luggage. Even if you think you barely own property, the policy can add to plenty more than you expect. According to a website called Esurance.com, there is about $20,000 worth of coverage that an average renter owns. You are protected against multiple perils. These all include explosion, civil commotion, malicious mischief, falling objects, volcanic eruptions, and others.
   
   
3. A Requirement by Your Landlord
   A landlord’s insurance policy only covers the building and the surrounding grounds and does not include your items. Every year, the number of landlords that require renter’s insurance to their tenants significantly increases, and they will also want to see proof. This could either be an idea from the landlord, or a given necessity from the insurance company of the landlord to shift specific responsibilities to the tenants if they have coverage. Inquire assistance from your landlord if you have difficulties finding coverage.
   
   
4. It Offers Liability Coverage
   Most standard policies for renter’s insurance include liability coverage. It provides added protection if a person gets an injury within the boundaries of your home, or if you accidentally injured them. The coverage will pay any legal expenses along with court judgments until the limits of the policy. On average, renter's insurance provides liability coverage worth at least $100,000, and a range from $1,000 to $5,000 for medical expenses

Invest in renter’s insurance now and expect your personal belongings covered, whether they’re in your car or at home. Additionally, it also provides coverage for accidental injuries in your home. 

At AllRisk Auto Insurance, LLC, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (360) 693-4044. Get your free quote today by CLICKING HERE.