With more and more Americans facing enormous student loan debt on top of credit card debt, homeownership has become a distant dream for many. Renting can offer a lot of benefits, but just as homeowners need insurance to protect their belongings and themselves, so do renters. At Allstar Insurance in Lincoln, NE, their agents can help you get the right renters insurance to protect yourself and your belongings. Here, they explain why this coverage is so important.

5 Major Benefits of Renters Insurance

1. Protects All Your Belongings

If you’re renting a small space, you may think your belongings aren’t worth much. If a disaster happened, though, you’d be stuck having to replace them all at once. Renters insurance not only covers the belongings you own, but it also covers other items you may have borrowed or rented. Additionally, most policies have “off-premises” coverage, so if your computer is stolen from your car, that’s covered, too.

2. Covers Damage You Cause

Whether your kid is playing ball and accidentally breaks your neighbor’s car window or you forget to turn the stove off and cause a fire, renters insurance will cover the damages.

3. Protects Your Guests

If a friend gets hurt while visiting your apartment, you could be liable for their medical bills. A renters liability policy will cover those expenses up to your policy’s limit.

4. Keeps You Safe From Lawsuits

A lawsuit usually involves enormous expenses most renters aren’t prepared to handle. A comprehensive liability insurance policy covers legal fees, settlement costs, and other associated expenses up to your policy’s limit.

5. Acts as a Backup Plan When Disaster Strikes

If a fire, flood, or some other disaster takes place, making your apartment unfit to live in, renters insurance can cover the cost of staying in a hotel or renting another place. Exceptions may apply, and there are limits, but it can keep you off friends’ couches and find you a comfortable, temporary living situation.

Renters insurance offers a lot of the same coverage as homeowners insurance, but often at much lower rates. The agents at Allstar Insurance will help you find a policy that fits your needs. You can learn more about them and the products they offer online. When you’re ready to get a quote on renters insurance, give them a call at (402) 477-0900.