Realistic Reasons You Need Renters Insurance Right Now

Did you know? 60 percent of renters don’t have a renter’s insurance policy according to a recent Rent.com survey.Millennials were even less likely to be covered, with 72 percent under the age of 25 without a policy.  The large number of uninsured renters is alarming to say the least. It’s easy to think with all the necessary insurance we need as Americans from health insurance to car insurance thatrental insurance isn’t necessary when renting a homefrom a Tucson property manager. But that simply isn’t true. Here a 3 realistic reasons you need renters insurance right now!

1.) Bye-Bye Possessions!

17 percent of renters surveyed said they didn’t thinkrenters insurance was important. Besides, what are the odds that something could happen to your rental home in Tucson anyway? You’d be surprised. In the United States, a house fire takes place every 90 seconds, and a break-in occurs every 15 seconds. And if you’re found at fault for an accident such as leaving the stove on and causing a house fire, you’d end up swimming in the costs it takes to repair the damage as well as replace your personal belongings. Imagine having to replace everything you own from your computer and TV to your furniture and clothes. Not having rental insurance just isn’t worth it.

2.) Protect your guests

Have you or someone you know ever gotten hurt at someone’s house? Maybe there was a house party and you fell or the walk way was cluttered and you tripped, injuring yourself in the process. The benefit of renters insurance is that liability coverage is included in yourstandard renter’s policy. This provides protection if someone is injured while in your home or if you accidently injure someone. Renters insurance also pays any court judgements or legal expenses up to the policy limit should any be acquired from an accident in your home.

3.) Could Cover Living Expenses

Catastrophes happen. Maybe the last monsoon stormblew a palm tree through your bedroom window or your upstairs neighbor’s bathtub leaked into your bedroom closet and damaged all your clothing. If for any reason your home becomes uninhabitable, your renters insurance policy may cover additional living expenses including the cost associated with temporarily living elsewhere, meal costs, and more. Most renters’ insurance policies protect against perils including falling objects, explosions, fire, theft, vandalism, water damage, and more.

So, if protecting your possessions, guests, and possible living expenses from unplanned catastrophes means anything to you, you’ll want to invest in good renters insurance. The best part is renters insurance is affordableusually costing no more than a few hundred dollars a year and in some cases can be bundled with your car insurance to save you money. How much would you pay for a little peace of mind? If you’d like to know more about obtaining rental insurance for your Tucson property manager rental, contact the Simply Property