In the United States, nearly everyone who owns a home or piece of property has a homeowners’ insurance policy on it. It’s part of the requirements for most mortgages, and prevents the complete loss of wealth and possessions should a natural disaster or other tragedy occur. But what about people who rent their home? Are there insurance options to protect these people? The answer is yes. Renters’ insurance is not only available; but it is also highly advisable. Read on to find out more!
Renters Need Insurance More Than Anyone Else
A local insurance agent will likely advise you that there is no customer in need of insurance coverage more than a renter. Madison, WI area insurance company Cliff Insurance Agency knows that renters are more vulnerable than homeowners. These legal experts advise investing in comprehensive renters’ insurance, often available as an addendum to your existing auto insurance or other insurance policies. The small monthly cost of this coverage can save you vast amounts of stress and money should an accident or disaster occur.
If you lose your belongings in your own home, you are guaranteed by homeowners’ insurance will cover the damages. However, the cost of this coverage is not included in the rental fees most people pay to their landlord, and therefore do not occur to many renters as important. However, the potential for lost property and belongings is greater in many rental situations than it is for homeowners, making the need for renters’ insurance all the more apparent.
How to Get Covered
As previously mentioned, renters’ insurance can often be added to existing policies. Discuss your options with your insurance company, and if you haven’t already, consider adding this supplemental coverage to your current policies. It’s a small investment that can really pay off, should anything happen to your belongings Don’t lose your stuff. Call your local insurance agent today, and get the things inside your rental property covered!
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