Although insurance may not be required for renters as it is for homeowners, it still serves the same important purpose of maintaining financial security. Renters insurance is a valuable form of protection that all tenants can benefit from having. No matter how tempting it is to skip the additional expense, the agents at New Vienna Mutual Insurance Association advise against overlooking how a policy can benefit you in the face of hardship.
Below, the New Vienna, IA, company explains the top reasons to invest in renters insurance:
3 Reasons to Purchase Renters Insurance
1. Replace Your Personal Belongings
Even if you don’t believe there’s much value in the things you own, it’s essential to consider how much it would cost to replace many of the items you have accumulated. Chances are, when you add it all up it will amount to be much more than you thought. Without renters insurance, you wouldn’t have any financial help replacing your belongings if they’re stolen or damaged.
2. Protect Yourself From Liability
Standard policies also provide liability coverage should someone get injured while visiting your property. If a guest were to slip and fall or suffer a dog bite while in your home, you could be held monetarily responsible for their medical bills and any legal fees incurred from a lawsuit. Renters insurance will give you the funds needed to pay these expenses.
3. Cover Additional Expenses
If you were to be temporarily uprooted from your residence if it was damaged or unsafe to remain there, renters insurance will help cover the associated costs of residing elsewhere. Until you can move back in, your policy will compensate charges for rent, food, and more.
Buying renters insurance is a relatively inexpensive way to prepare for the unforeseen. Contact New Vienna Mutual Insurance Association at (563) 921-4115 to inquire about an insurance quote, or visit them online for additional information.