Why Renters Insurance Is Important

As a renter, you have heard of renters insurance, but is renter's insurance really all that important? YES! Let’s breakdown the why-to-why renters' insurance is crucial. Simply put renters' insurance protects your stuff. The rental you live in maybe isn’t that important to you, but your personal belongings are. For example, renters' insurance could cover a house fire, burglary, or even water damage. In case of these unforeseen circumstances, you don’t have to worry about replacing it all without a little help. Insurance is only a waste of money until you need it.

The average in the state of Utah for renters’ insurance is only $13 a month and $155 a year. When getting renters’ insurance make sure you are well aware of what your insurance will cover and what it won’t. Renters’ insurance typically consists of these two primary coverages; personal property, and liability coverage. 

Personal property insurance covers your personal belongings like we talked about above. Anything from lighting to smoke damage. It will be covered. Of course, not all items are treated equal. This will cover your everyday household items. Cookware, furniture, clothing, etc. If you have expensive items they will be covered up until you hit your policies limit. 

Liability coverage protects you if you are found liable for harm or damage experienced by someone else. Now, this doesn’t always mean bodily harm. It is also harm or damage to a property. For example, if your window AC falls out and shatters your neighbor’s window, your insurance can help pay for those expenses. 

Most landlords require renters’ insurance, but in the long run it is there to protect your belongings and make sure they are covered.