For many individuals, renting a home or apartment is preferable to purchasing real estate outright. Although homeowners insurance is a given for buyers, not everyone considers the value of renters insurance. Here are three key way this important form of coverage can help you.
Why Do You Need Renters Insurance?
1. Protects Your Belongings
The main reason for renters to purchase insurance is to obtain valuable coverage for their personal belongings. This includes everything from electronics and clothing to jewelry and furnishings. If any of these items are lost due to a fire, smoke damage, flood, theft, or explosion, then you can recover the value through your policy. The landlord’s main insurance policy applies to the building itself and the structure of the units—but has no connection at all to your personal property. It’s up to you to protect what you own, even if you don’t think it’s very much.
2. Provides Liability Coverage
Accidents can happen at any time. Through renters insurance, you’re absolved of liability if someone is injured inside your apartment or home due to accidental negligence on your part or anyone else who is covered by the policy. The liability coverage typically includes any legal fees and medical expenses as well as court costs.
3. Safeguards During Travels
Odds are you’ll take a few possessions with you when you go out of town. No matter where you happen to travel, your belongings are covered by your insurance policy in the event of a theft. Whether they’re stolen from your car, your apartment, or out of your suitcase, you’ll have protection if something is taken. All you’ll need to do to file your claim is provide the insurance company with a police report and a full inventory of what was taken along with each item’s value.
If you’re looking for a comfortable and affordable home, consider the apartments and houses available from Buckner Properties. Located in Cookeville, TN, the staff takes pride in helping you find the perfect spot for you and your family. There are many different layouts available, and they can even assist you in securing a reasonable renters insurance package. Visit the website to learn more about their attractive rental properties or call them at (931) 526-2104.