Your entire life may be sized up in a couple dozen boxes and some mismatched furniture but it is still yours. Throw in your computer that still has your great American novel on file along with your client’s new logo and you have some serious value. And we haven’t even mentioned your clothes.
You Are Worth More Than You Think
Your belongings may seem hardly worth insuring until you take the time to figure your replacement costs. Your computer alone, along with all of your programs can’t be easily replaced. Add to that your furniture, kitchen supplies, along with priceless items you store in boxes, and you will quickly realize how difficult it would be to live without it all.
The Best Value in Insurance
Renter’s Insurance isn’t just another big financial burden to make your life more difficult. Some describe it as the best insurance value for your investment. For a very small amount, (usually less than a night at the movies) you receive a very large benefit when you need it and peace of mind every day you that you are a renter.
But Wait There’s More
You would be wrong to assume that your landlord’s insurance would cover you in the event of a fire or flood. Your landlord’s insurance covers their property, not yours.
Renter’s insurance, on the other hand, covers your liability while you are a renter. If your bathtub overflows and floods the apartment below you, your renter’s insurance can cover the damage up to your policy limits.
As renting increases in popularity, renter’s insurance may become a requirement before you can rent. As for now, it is good idea and a great value.