How much would it cost to replace everything you own, from the big-ticket items down to your towels? You likely own a lot more than you think, and it could be destroyed by a severe weather event or broken water pipe. If you rent your home, renters insurance provides peace of mind with an umbrella of that covers several aspects of your life.

4 Ways Renters Insurance Protects You

1. Damaged or Destroyed Property

This is the most obvious benefit of renters insurance, and the reason most people opt for coverage. Your policy will protect your belongings against a wide array of accidents, from hailstorms and wind damage to fires and broken water main lines. Earthquakes and floods, however, aren’t covered by the standard policy, so you might need an additional amendment if you live in a vulnerable area.

2. Theft & Vandalism

The standard renters insurance policy will also compensate you for any property stolen or destroyed by vandals. The limits outlined in your policy should be enough for most renters, but if you have especially valuable jewelry, artwork, or electronics, you may want to consider purchasing additional coverage.

3. Liability Protection

If you accidentally damage a neighbor’s property or someone is hurt in your home, the resulting lawsuit can be financially disastrous. Most renters insurance policies will pay up to $100,000 in damages, but most experts recommend carrying coverage equal to the total value of your assets.

4. Living Costs

With renters insurance, you’ll never have to worry about where you’ll live after a disaster. If you can’t stay in your home while it’s being repaired, your renters insurance will pay for alternative arrangements, including the costs of hotels, short-term apartment rentals, and restaurants.

For over 40 years, Financial Strategies Group Inc. DBA Arlene Lear Insurance has provided customized policies to homeowners and renters throughout Bolivar, MO. As independent agents, they work with several industry leaders, giving them access to a wide variety of policies. To learn more, visit their website, and call (417) 777-3000 to request your free renters insurance quote today.