If you are renting, you should have renter’s insurance. Many property managers and landlords in Hampton require proof of renter’s insurance before you move in. Even if they don’t, you should still get renter’s insurance for your own protection.
It may appear unnecessary, but renter’s insurance is inexpensive and offers peace of mind if something happens to your belongings. The process of acquiring renter’s insurance is simple. You can either contact an insurance agent or compare policies online. Here are five reasons why all renters should have renter’s insurance.
Your landlord’s insurance doesn’t cover your belongings in the event of a power outage, fire, flood, theft, or other disasters.
Your landlord’s insurance most likely covers just the property, not your personal items. If there is a fire or flood in your apartment, you will be responsible for replacing items not covered by renter’s insurance.
Renter’s insurance is relatively cheap and can be customized to fit your needs.
For under $20 a month, you can obtain a basic renter’s insurance policy. If you have high-value items such as jewelry or art, you can add extra coverage for full protection. This affordability secures your finances in case of unexpected events.
You can customize your renter’s insurance to include liability coverage, protecting you if the property is damaged by you or a guest, or if someone is injured and sues you. If you have roommates, they need their own policies because your renter’s insurance doesn’t cover their belongings.
Each adult in the rental needs their own renter’s insurance policy.
Most renter’s insurance policies cover temporary living expenses if you have to move out of your apartment due to a disaster.
If your apartment is unlivable because of a fire or flood, your renter’s insurance will likely cover hotel costs or other temporary living expenses. This can be a huge help if you don’t have the money to cover these unexpected expenses.
Renter’s insurance can help you recover if something happens to your belongings. If you lose everything in a fire or theft, renter’s insurance can help replace your belongings. This can be incredibly helpful if you don’t have the money to replace everything at once.
Renter’s insurance can help you replace important documents, such as your passport or birth certificate, if lost or destroyed. Losing these items can cause financial hardship and make them difficult to replace.
Having renter’s insurance gives you peace of mind, knowing you’re covered in an emergency.
Nobody likes to think about worst-case scenarios, but accidents and natural disasters do happen. And if something happens to your belongings, it’s reassuring to know you’re covered. Renter’s insurance gives you peace of mind by knowing you’re protected in an emergency.
A great manager is essential for stress-free property ownership for landlords and property owners. At Real Property Management Complete, we treat every property seriously and aim to exceed expectations. Contact us or call 757-937-2964 for top-quality services in Hampton and nearby areas.
Originally Published on June 24, 2022
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
