It’s not difficult to understand why insurance is a necessity when you own a home, yet many renters don’t realize they are vulnerable to similar risks. While tenants don’t have to worry about covering plumbing issues or replacing broken appliances, they should be concerned about the risk of theft or property damage. That’s why renters insurance is a crucial investment, and the professionals at Imperial Agency are committed to helping Garfield, NJ, tenants find quality coverage at affordable rates. Below, they explain why it’s crucial for renters to be insured.

Reasons for Every Renter to Purchase Insurance

Protection in Liability Cases

If a guest gets injured while visiting your residence, you could be held financially responsible. Should they decide to pursue a personal injury claim, they may be awarded compensation for their medical bills and other associated expenses. Without renters insurance, you would have to pay out of pocket. However, if you’re covered, the policy will take care of the judgment and legal fees.

Coverage for Your Personal Belongings

Renters insurance is essential for covering natural disasters and burglaries. Your landlord’s policy won’t cover any claims of damage or theft involving your personal belongings. Having your own coverage will provide the funds you need to make repairs or replace items—as long as your policy limits are high enough.

Safeguard Against Damages You Cause

Remember, you could also be liable for inadvertently damaging your own place or a neighboring residence. Accidentally starting a fire or creating a situation that leads to water damage can cost you a great deal if you don’t have renters insurance to cover resulting property damages.

Renters insurance offers valuable protection to help you maintain a financially secure future. Just because it may not be a required purchase doesn’t mean it’s not worth investing in. Contact Imperial Agency at (973) 546-9567 to request a quote, or visit their website for additional information on their array of products.