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Do you need renters insurance?
According to recent estimates, nearly two-thirds of the 81 million people who rent are uninsured for their belongings or any liability arising out of their tenancy.
First - Do the math and add up how much it would cost to replace your belongings.
Second - Check with the terms of your lease, and verify if carrying a renters policy is required by your landlord.
Third - Request a renters insurance quote to verify just how affordable it is to protect your belongings from perils like theft, vandalism, fire, and falling objects.
If you’ve considered it all, you might think that the “stuff” you have isn’t worth much. It may or may not be worth anything from a dollar amount, but that’s very different compared to how much it would cost you to replace it. Buying a new couch, bedroom set, clothing, or a computer can cost much more than you think. You’ll be surprised at how affordable renters insurance can be. Besides covering your stuff, it can cover you from being held liable if someone hurts themselves while they’re in your home. So, in the unfortunate event, you’re sued, and the judgment goes against you, the renter's policy will cover you, up to the policy limits.
As a renter, you’ve got it pretty good: No property taxes, no lawn cutting, and no snow removal. But as a tenant, what would you do if you returned from work or a vacation and all your possessions in your apartment had been destroyed by a fire? Or if there were a break-in and some of your most expensive stuff was stolen? You may think that the building owner’s insurance would take care of all the damage caused by a fire. It doesn’t. Your building owner is only required to carry insurance for the structure. Usually, covering everything outside “your walls” is their responsibility, while everything inside is yours to cover. This means all your furniture, electronics, appliances, clothing, and jewelry are uninsured unless you purchase a renters policy. It doesn't matter if its and apartment, condo or a single family home you rent, your landlord covers their belongings, not yours.
While most insurance products are similar in price and function, insurance providers vary when it comes to structuring a policy tailored to you. After all, there’s no such thing as a one-size-fits-all insurance policy when it comes to your personal property.
Contact us today, and we'll help you protect what matters most. It’s Insurance Simplified to get renters insurance quotes when you work with Held Insurance Agency. Our office is located in Mount Prospect, Illinois. Serving all of Illinois and Wisconsin.