First apartment? Three reasons why you need renter’s insurance

You just signed the lease on your first apartment. Yay! Congratulations. Did you remember to get renter’s insurance?

Wait, what? Renter’s insurance? What’s that? Shouldn’t I be covered under my landlord’s policy?

We know spending even more money on something like insurance when you just signed a lease and need to furnish your own space can be overwhelming but the fact is, you always need to protect your things.

Even if you don’t have a lot of nice things yet, a fire or flood or theft could be financially devastating to a person just starting out, but insurance can save you headaches and heartbreaks.

Emergencies happen. They don’t have to bankrupt you or cause financial hardship. Here are three reasons you need renter’s insurance. Read on:

Your landlord won’t cover you; you need renter’s insurance

The fact is, your landlord has insurance to cover the building you live in, not your personal belongings. So, if your apartment is damaged in a fire, flood or you are robbed, you and only you are responsible for replacing things that are stolen or damaged. And that can really cost you.

Liability issues

Say you clog your toilet and it overflows, damaging your neighbor’s apartment. Or your dog bites a neighbor. You could be liable for the damage. Do you have the funds to pay for it? Probably not. But if you have insurance, you are covered. That’s peace of mind.

Displacement costs

If your apartment is damaged or unlivable, you have to go somewhere, right? Renter’s insurance can help you pay for lodging while your apartment is repaired. It might also cover food and personal items.

The Skip Ivery Agency

If you have additional questions about renter’s insurance – or how much coverage you need – we are here to help. Contact us today! We’d love to meet you.