If you rent a house or an apartment, you may think having insurance isn’t necessary. However, renters insurance is crucial for protecting the items in your home, while also providing you with protection from costly lawsuits and other legal actions. In High Point, NC, the team at Phillip Kent Beck Agency provides a variety of products to ensure their clients can protect the items that matter most in life. They also encourage renters to have the right policies in place, which can save a lot of hassle if they were to lose any property.

Why You Should Have Renters Insurance

Reimburses Personal Property Loss

While your landlord’s property insurance covers the actual physical structure, it does not extend to the personal belongings inside. That’s where a renters policy comes in. This insurance can offer reimbursement if you lose property due to events such as a fire or theft. Even if you feel your belongings are not that valuable, consider how expensive it would be to replace everything you currently own.

Offers Coverage Against Liability

If a person is injured in your home, you could be subject to a costly lawsuit. For instance, if a guest is injured while in your home, he or she could file a suit against you. Liability coverage also protects you against property damage caused by a pet or occupant of your home. 

Meets Landlord Requirements

Some landlords even require a renters policy. The goal is to safeguard property owners against risk incurred by tenants, who may seek compensation if their belongings are damaged. If the need for renters insurance is spelled out in your lease, your landlord may require a copy of the policy for verification. 

Covers Temporary Lodgings

If the home you rent is too damaged to inhabit, renters insurance may even provide funding for temporary lodging. However, every policy is different, and you may need to request additional coverage if temporary housing is not specified in your policy. While it will incur an additional cost, it’s worth it if your rental is uninhabitable for a period. 

As part of the Nationwide® family, the Phillip Kent Beck Agency provides comprehensive and compassionate service to clients in High Point. Call (336) 434-2111 for more information on how you can secure a renters insurance policy today. You can also visit the team’s website for more information on how to get a personalized insurance quote.