If you rent, you need renter’s insurance. Many property managers and landlords in Des Moines require proof of renter’s insurance before you move in. However, even if they don’t, you should still get renter’s insurance for yourself.
It may seem unnecessary, but renter’s insurance is inexpensive and gives peace of mind if something happens to your belongings. Obtaining renter’s insurance is simple. You can either contact an insurance agent or go online to compare policies. Here are five reasons why each renter should have renter’s insurance.
Your landlord’s insurance doesn’t cover your belongings in the event of a power outage, fire, flood, theft, or other disasters.
Your landlord’s insurance likely covers only the property, not your personal belongings. If there’s a fire or flood in your apartment, you’ll need to replace anything not covered by your renter’s insurance policy.
Renter’s insurance is relatively cheap and can be customized to fit your needs.
For less than $20 per month, you can get a basic renter’s insurance policy. If you own high-value items like jewelry or art, you can add extra coverage for their full protection. This affordability secures your finances against any unforeseen events.
You can customize your renter’s insurance to include liability coverage, protecting you if the property is damaged by you or a guest, or if someone is injured and sues you. If you have roommates, they need their own policies since your renter’s insurance doesn’t cover their belongings.
Each adult in the rental must have their own renter’s insurance policy.
Most renter’s insurance policies cover temporary living expenses if you have to move out of your apartment due to a disaster.
If a fire or flood renders your apartment uninhabitable, your renter’s insurance will likely cover hotel or temporary living expenses. This can be very helpful if you don’t have the funds to cover these unexpected costs.
Renter’s insurance can help you recover if something happens to your belongings. If a fire or theft causes you to lose everything, renter’s insurance can help replace your belongings. This can be a significant help if you don’t have the money on hand to replace everything at once.
Renter’s insurance can help you replace important documents, such as your passport or birth certificate, if lost or destroyed. Losing these items can be a financial setback and make them difficult to replace.
Having renter’s insurance gives you peace of mind, knowing you’re covered in an emergency.
No one likes to consider worst-case scenarios, but accidents and natural disasters occur. And if something happens to your belongings, it’s reassuring to know you have coverage. Renter’s insurance offers peace of mind, ensuring you’re protected in an emergency.
An excellent manager is essential for stress-free property ownership for landlords and property owners. At Real Property Management Excelled, we take every property seriously and strive to exceed expectations. Contact us or call 253-275-5999 for top-quality services in Des Moines and nearby areas.
Originally Published on June 24, 2022
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