Renting, rather than owning, avoids the need to pay for housing expenses such as property taxes, homeowners insurance, mortgages, and property upkeep. However, you still need to protect yourself financially. All renters should get renters insurance coverage as soon as they sign the lease to a new place. This policy will provide some key benefits that make the small cost worthwhile.

How Renters Insurance Protects You

1. Replace Your Belongings

While you certainly hope a disaster will never occur, they can happen. Your landlord’s homeowners insurance will not cover your damaged belongings in case of a fire, flood, theft, or another disaster.

Renters insurance will be able to replace the cost of lost items. Coverage will include objects you own, borrow, or rent. A percentage of your items are even covered if you’re away from home, such as if your laptop is stolen during your commute to work.

2. Get a Place to Stay

If there’s damage to property, you’ll need an alternate place to stay. Your insurance will cover the expenses to find a temporary place. Rather than asking your friends if you can stay at their house, you can sleep in a hotel room or rent another apartment.

3. Cover Guests’ Injuries

If you like to entertain or ever have house guests from out of town, then you need to be protected financially. Your policy will cover medical bills for someone who’s injured at your apartment or rental home. It can also cover legal costs if someone sues you after they get injured on the property.

If you need help finding the right renters insurance policy, contact Action Auto Insurance Agency in New London, CT. Their range of products will protect you in case of accidents, catastrophes, and other disasters that could take a financial toll. They also offer auto insurance, business insurance, and other policies that you can bundle to save and protect yourself. Contact them on their website for additional information or call (860) 444-7224 for a free, no-obligation quote.