Why You need renter's insurance

3/26/2017

Adulting is hard. insurancing is easy.

Most millennials know that “Adulting is Hard.” From laundry to cooking dinner, paying rent or even staying home on a Friday night. What about insurance? According to a study by Princeton Survey Research Associates International for InsuranceQuotes.com, 2016, 66% of 18- 29-year-olds rent their homes and nearly 70% of them don’t have renter’s insurance. So, while “Adulting is hard. Insurancing is easy.”

For the next few weeks, I’ll be posting about renter’s insurance. We’ll examine “Why you need a Renter’s Policy, 4 things you need to consider and 5 questions to ask your insurance rep about Renter’s Insurance.”

Why you need a renter's insurance policy

Many renters don't realize how they could benefit from having an insurance policy that can protect their valuables in a life-changing event such as a fire or theft. If you assume that damage to your property in your rental home will be covered by your landlord's insurance policy, you are making a mistake. Owners of rental properties typically purchase only enough insurance to repair or replace their structures and cover their liability. Insuring your personal property is up to you.

If you suffer a loss to your personal property or become the victim of a theft or fire, your landlord may be sympathetic. But he or she may bear no responsibility for replacing your property.

Renters insurance offers the same general personal property coverage as homeowner’s insurance. It helps protect you against losses from such mishaps as theft, fire, lightning, vandalism, windstorms and water damage from broken water pipes. Read more…

How Much Will Your Renter’s Policy Cost?
Considering the broad protection, renter’s insurance policies are relatively inexpensive. In 2014, the average annual premium in the U.S. was $190. The cost is low because renters don't need to buy insurance to protect their homes, only their contents.

At Suburban Brokers, we make insurance easy. You’ve worked hard for what you have. Let us help you protect your personal property.

17 Comments

kate hansen link

6/23/2020 05:39:12 pm

I loved how you mentioned that it can help with protecting you if a fire were to happen. My sister and her husband are planning on moving into a rental home in a couple of weeks, and they're wondering if they should look into getting insurance for it. I'll make sure to pass this information along to them so that they can know the benefits of getting renters insurance!

Alicia Byrne link

7/9/2020 12:06:36 am

I think you made a good point on buying renters insurance so that we can protect ourselves from unpredictable events such as a fire. I am thinking of renting an apartment for myself as I will be starting my work in a new area soon. I will definitely consider a renter's insurance policy when I rent an apartment.

Jonathan Hansen link

11/25/2020 12:46:20 pm

It's interesting that you mention that renters insurance can cover the cost of your belongings in case there is a fire in the home that you are renting. I just got my first apartment with my girlfriend, so it sounds like I should buy a renters insurance policy. I'm going to search for a reputable business that can sell me some renters insurance.

Sidra link

6/2/2021 12:34:20 pm

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Mia Evans link

7/30/2021 11:01:59 pm

Thanks for pointing out that the renter's insurance policy will be able to protect you and your property if there are instances of theft or fire. I hope that I get this kind of coverage when I rent an apartment this coming August. I just need to stay in another town for a year or two due to my assignment, so I hope to get the right insurance coverage to protect me while I live there.

Karissa K link

10/10/2021 09:18:29 am

Thanks for the great idea, it helps widen the knowledge of people not just for those who wanted it, but specially for those who needed renter's insurance in austin,
keep posting informative and helpful articles
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5/25/2022 01:32:46 am

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GenieKnows Insurance link

9/6/2022 11:50:15 am

There are actually many kinds of insurance readily available on the marketplace today, however each one of them are actually about securing our team, family members, or even belongings from some sort of financial reduction.

No one knows what the future keeps, and it is regularly crucial to possess methods to defend ourselves.

Insurance policy can easily defend our company from the reduction of project, health and wellness, automobile, property, or even life.

Insurance is an important component of a monetary security.

I know there are the 3 major kinds of insurance coverage: vehicle, health and wellness, and life.

While obtaining insurance coverage, individuals commonly acquire puzzled on whether decide on life insurance policy or even health plan.

I am actually likewise within this condition may any person help me??

Carey link

9/26/2022 06:46:38 am

Thanks for your blog.There are home insurance which is also connected to a term life insurance so something happens to the bread winner of the family at least the rest of the dependent have a home to stay as the home insurance will cover the entire debt to be paid to financial institutions.

liana link

9/29/2022 10:16:06 am

thanks for info

Directory link

2/3/2023 03:16:16 am

Thanks so much for the Guide , I Appreciate.

Eli Richardson link

2/22/2023 12:57:37 pm

We decided to rent our house this year and move to a rental one in the meanwhile, but we never thought about needing to get insurance for it. That's why we're glad you elaborated on a renter's insurance policy and what it covers in case of a theft or fire, so we'll look into this soon. Thank you for the advice about protecting our belongings in case of a major loss.

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3/21/2023 03:01:43 pm

Renter's insurance is often overlooked by young adults who are renting homes. However, it can be a valuable investment that can protect your personal belongings in case of theft or damage due to natural calamities. Many renters make the mistake of assuming their landlord's insurance will cover their belongings. This is not the case, and renters need to take responsibility for insuring their possessions.

Braden Bills link

3/28/2023 11:03:11 am

I'm planning on moving into a rental home, but I want to make sure that I'm covered. It makes sense that getting the right insurance policy would be important! I'll be sure to work with a professional to help me out with this kind of thing.

Financial Planning link

9/11/2023 01:14:29 am

Reading your blog about Why You Need Renter's Insurance. It's clear that you're incredibly knowledgeable and passionate. Thank you for sharing your expertise in such an insightful way.

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11/4/2023 07:38:05 am

Your explanations about the protection it offers for personal belongings, liability coverage, and additional living expenses in case of unexpected events are clear and compelling. The emphasis on the affordability of renters insurance is a great reminder that it's a small investment for significant peace of mind. I appreciate how you've addressed common misconceptions and highlighted the benefits that come with this type of coverage. This article is a valuable resource for renters, and it effectively conveys the necessity of having renters insurance. Thanks for sharing this essential information!

Millie Hue link

12/19/2023 08:02:26 pm

It got me when you said that renters will be protected as well as heir valuables in the event of a fire or theft with renters' insurance coverage. I should consider that when I have enough money for it now that I am living on my own. The apartment I live in is not mine, so it would be great if I can be protected for unexpected things and expenses as much as possible.