Why You Need Renters Insurance

renters insurance

Why You Need Renters Insurance

14:43 20 September in Insurance

At Ihry Insurance, we love nothing more than conversing with those in our communities. Through these talks, we have discovered that one of the most common, and laziest, mistakes renters make is neglecting to protect themselves, and their belongings, with renters insurance. With an average monthly payment of $15 (lower than a Friday night pizza delivery), renters insurance possesses the ability to prevent significant financial loss.


Besides the fact that your landlord, who may even require it, has likely implemented a clause in your lease that frees them from liability, let’s explore why renters insurance is a must.

  1. Covers Theft

If your rental property or apartment is subject to burglary and/or theft, it is highly unlikely that your valuables will be recovered. Unless your landlord failed to provide proper security for your building, they are not responsible for stolen or destroyed items. Depending on your renters insurance policy, your stolen or tampered items will be covered. Items such as clothes, jewelry, luggage, furniture, and electronics.


  1. Covers Natural Causes

Nature can be unpredictable and unforgiving. In the case that your belongings are damaged or destroyed by a natural event, such as fire, tornado, hail, hurricane, etc., it is essential to possess the proper renters insurance. Nature can’t be held liable – that means you are. When evaluating your coverage options, be sure to review which natural events are considered ‘riders’, or add-ons. As add-ons to your standard policy, it is crucial to have your area’s most common natural events covered.

  1. Covers Liability

It isn’t uncommon for a guest to injure themselves on a loose step, a hidden nail, or rut in your lawn. Even worse are the extremely high costs associated with such negligence. In the event that a guest of your rental property injuries themselves, rental insurance covers, up to a certain amount, court payments and medical payments. Even if you take all necessary precautions and deem your rental safe, unforeseen accidents happen. Don’t get stuck with someone else’s bill.

  1. Covers Your Negligence

At this point in your life, you are secure with the reality that we all make mistakes. Mistakes such as accidently leaving a faucet running, failing to secure a hanging object, or leaving a stove on. In the case of such negligence, undesirable outcomes likely await. Renters insurance will assist you in covering the costs of replacing or repairing your belongings. Although it may seem obvious, renters insurance does not cover intentional damage.

  1. Covers Travel

Many of us travel with our most prized possessions. With renters insurance, coverage extends beyond your rental property. Depending on what you have deemed worthy of coverage, your belongings are protected from damage even during travel.

  1. Covers Additional Expenses Due To Inconvenience

In the event that you and your family are temporarily relocated, due to unforeseen circumstances, necessities, such as food and rent, may be covered by insurance. Don’t add additional inconvenience to an already inconvenient time.

It’s clear to see that renters insurance provides a lot and requires little. Protect your belongings, and yourself, with proper renters insurance coverage. Contact our team today for a free quote.

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