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If you rent your home, you might assume that your landlord’s property insurance will pay for any of your personal possessions damaged in a fire or extreme weather event. Unfortunately, that mistake could cost you, since that policy only covers the structure itself, not your own possessions. To protect your possessions, renter’s insurance is one of the most important investments you can make.

Why Renter’s Insurance Is So Important

1. You Own More Than You Think

Consider how much it would take to replace everything you own, including your linens, furniture, and clothing, along with big-ticket items like your electronics and jewelry. If you’re like most people, you probably have more than you thought. Without a renter’s insurance policy, you could find yourself paying for replacements out of your own pocket if your home is completely destroyed.

2. It Covers a Variety of Perils

renters insuranceThe standard renter’s insurance policy protects against a wide range of threats, from fires and damage caused by broken pipes to riots and falling meteorites. It will even cover losses related to theft, vandalism, and other malicious auctions.

3. Renter’s Insurance Provides Liability Protection

A single lawsuit can be financially devastating, so renter’s insurance provides an umbrella of protection over all of your assets. If someone is injured in your home or a member of your family causes an accident resulting in damages, renter’s insurance will pay the claim for you, along with any legal fees related to your defense.

4. It’s Affordable

Many people assume they can’t afford renter’s insurance, but you may be able to get the coverage you need for only a few hundred dollars per year. However, if you have especially valuable belongings, you may want to speak to your agent about extending your coverage limits.

 

Bruce Richardson, a State Farm® Agent in Mooresville, IN, is dedicated to helping homeowners and renters alike get the coverage they need. With years of experience and a range of products from one of the nation’s leading carriers, you can rely on this seasoned professional to find the perfect policy for you. For a free renter’s insurance quote, visit his website or call (317) 831-3500, and follow his Facebook for more tips and insight.

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