Financially protecting yourself, your family and your property are important regardless if you own or rent your home (house, apartment, condo). If you own your home, you are more likely to buy a home owner’s insurance policy. But less than half of renters will automatically obtain a renter’s insurance policy, unless it’s required as terms to move in. But when apartment hunting, renter’s insurance should be on your list of anticipated bills for your new home. Of course at this point, it’s an approximate cost but it still should be seriously considered and incorporated into your monthly household budget like rent, gas and electric, water, garbage, etc…
Maybe you already know but just in case for those who don’t, renter’s insurance protects your personal property from risks like fire, flood and theft or natural disasters. Some other advantages include providing assistance with temporary housing expenses if you have to be relocated and even covering damages or injuries sustained by your visitors. You can personalize your policy as needed. It seems fairly inexpensive, especially when you weigh the cost to replace all your property and belongings if something were to occur that damaged or destroyed them. Think about it, can you afford to replace everything on your own? Even if you could, would you want to knowing their is a viable option for protection?
As a kid growing up, I’d always here my grandmother say, “better safe, than sorry.” And this rings true in this case. There are so many uncertainties in life. Things beyond our control. And even when we have the best intentions, both unpreventable and preventable things still happen. So that’s why it’s important to expect the best but be prepared for the worst. Therefore, if you rent, you should have renter’s insurance. Don’t just wait on this for your future home. Consider obtaining a quote today. You just might not have tomorrow to depend on.
Of course, I’m not willing negativity on anyone but instead just being realistic. We are just not prepared enough. Just as you should have a disaster packet ready in your car and home, life insurance and car insurance, I want you to see the value and importance of having renter’s insurance too. I can personally attest to realizing the need after experiencing the loss of personal items, due to an unexpected occurrence. I could only use it as a learning experience and that’s why I’m sharing this topic today.
So where do you start? Do you own a car and have auto insurance? Your insurer may offer renter’s insurance too. Ask about a bundle deal. Are there any discounts? Do they compare rates to other companies, so you get the best price, regardless if it’s with them or not? Ask, ask, ask! You should also go online and research what would be best specifically for you and your home. What coverages would be most adequate in the event something tragic occurred? Plus consider what you own and what you would want covered in advance, to avoid having to think about it on the spot. Preparation will make all the difference.
Again, I’m not trying to add to your expenses per say, but we have to live smarter. Be smarter. Be better about our financial choices. We have to be prepared at all costs. So get to work and protect what’s yours!