Renter’s Insurance: Why It Matters In 2022

​Do you know why most tenants do not have insurance? Perhaps due to an incorrect assumption that their landlord already has an insurance policy that covers them. But the truth is, the landlord’s insurance policy only covers the building itself. If you rent a home or an apartment, you will need a policy covering your valuable personal items.

Why Renter’s Insurance Matters In 2022
To cover your personal belongings and certain liabilities, you will need a renter’s insurance policy.  Do not underestimate the value of your items like clothing, jewelry, and electronics. Here are some top reasons why renter’s insurance matters in 2022. 
  
It is affordable
A renter’s insurance policy is quite affordable compared to most insurance policies. The cost of your policy will depend on your coverage of choice, where you live, and your deductible amount.

You are protected against loss of personal property
If you lose your valuable personal property like jewelry or clothes, this policy will cover you. Replacing your lost items like electronics, furniture, computer, or luggage can cost you more than you can imagine. Other losses covered could be those that occur as a result of the following:

• Explosions
• Fire/lightning
• Falling objects
• Vandalism/malicious damage
• Damage due to electric or plumbing faults
• Riot/civil unrest
• Losses from floods and earthquakes

Your landlord may require you to have it
Since the landlord’s insurance policy only covers the building itself, your landlord may require you to have your own insurance. It may be your landlord’s idea or the insurance company covering the building.

Your personal belongings are covered while you are away
Whether your personal belongings are in your home or car while away, they are covered by renter’s insurance. Even if you have traveled to another country, your valuable possessions are still covered by this policy.

You are protected from liability.
If a friend or a visitor visits your home and accidentally gets injured, they may decide to sue you for injuries sustained. An insurance policy will cover you in such circumstances since it will take care of medical expenses. The insurance will also cover the cost of a legal suit for its entire duration.

At AllRisk Auto Insurance, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (360) 693-4044 or Click Here to request a free quote.