According to a recent survey 66% of 18-29 year olds rent their homes and nearly 70% of them don’t have renters insurance!
My name is Allana and I would like to talk to you today about why you need renters insurance now.
If you rent an apartment or home, your landlord’s insurance on the building will not provide any coverage for your personal belongings or protect you if you are sued for negligence.
So what does Renter’s Insurance cover?
I’m going to break this down into 4 easy steps.
First of all, your personal belongings such as your clothing, furniture, electronics and other valuables.
Second, loss of use – Any additional living expenses that you may incur in case your home becomes unusable due to a covered loss.
Your renter’s policy will cover the costs for you to temporarily live elsewhere.
It will also cover the cost of meals above your normal living expenses.
Third, medical payments – The policy pays for medical expenses caused by injuries to others in your home or caused by you or your pet.
Fourth, personal liability – protects you if you are sued for bodily injury or property damage caused by your negligence.
And to me this is the most valuable part of a renter’s policy. Especially for those who claim that you don’t own that much stuff. We live in America and I see people getting sued every single day!
I mean, if your dog bites someone or you are walking a neighbor’s dog and that dog bites someone, you could be held financially liable for those injuries.
If you’re hosting a party and someone gets injured, you could be held financially liable for those injuries.
The policy will pay for the damages, if you are found negligent up to the policy limits. It will also pay for your legal defense.
And for only $0.50 a day!
I mean you can’t get much better than that guys!
The cost is so low, because renters insurance does not protect your home, it only covers your personal belongings.
At Murray & MacDonald Insurance Services we are committed to helping our clients reduce risk, protect their assets and plan for the future.
So please like, share and comment below!
Let’s make sure you are covered!
How can I protect myself with a renters policy?