Don’t be our next sad story: Look into rental insurance

Here’s a sad story we’ve heard all too often: a renter has a fire and loses everything because they don’t have rental insurance. We aren’t the only ones who hear this story – the Red Cross says they run into this scenario more and more often. In fact, a recent poll by the Insurance Information Institute (I.I.I.) reveals that only 37 percent of renters have renters insurance, versus 95 percent of homeowners who have a homeowners insurance policy.

We hear all kinds of excuses:

Myth: My landlord’s insurance will cover loss. Reality: the landlord’s insurance covers their building, not your property

Myth: It’s too costly. Reality: It is cheaper than you might think – especially considering the alternative. According to I.I.I, “…the average cost of a renter’s policy is only $187 per year, or less than four dollars per week.”

Myth: My possessions aren’t valuable enough to cover. Reality: It’s very costly to replace everything. Even for students in furnished apartments, the cost of replacing clothes, books, laptops, and other personal possessions can add up. Plus, renters insurance covers many things people often don’t expect. It would help protect you if a guest were injured in your home or if a laptop were stolen from your car. It would also help to pay for temporary living expenses if your apartment is destroyed.

I.I.I. offers a Renters Insurance checklist and check out the short video clip in the link below to get advice from a dummy 😉 We also encourage you to give a call to your us to learn more.

Source: http://www.insureinfoblog.com/2014/09/dont-be-our-next-sad-story-look-into-rental-insurance/