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Do You Really Need Renter's Insurance?

posted by TrueNorth Risk Management on Wednesday, August 10, 2016

When you finish college, there is probably a lot going through your mind.

Finding a job, paying your bills, and of course finding suitable housing. Once you move to your city of choice, begin a new job or enter into graduate school, you may decide you want to rent an apartment. Once you have made that decision, it is time to think about renter’s insurance.

More than likely, your landlord has liability and property insurance to protect themselves and the building you now reside in. However, you and what you own are not covered from impending hazards such as a fire or theft. Did you know if someone happened to slip and fall in your apartment, you could face big legal trouble if you do not have renter’s insurance?  Getting a quote from TrueNorth will help these unforeseen dangers. Here are some ways a renter’s insurance policy can help you. 

Property Coverage

No matter where you live, there is always a chance that a destructive disaster could strike at any moment. Having a renter’s insurance policy will repair or replace your property if it’s damaged due to fire and lightning, windstorms and hail, smoke damage, freezing damage, or theft. Having a renter’s insurance policy can also cover things that are not as common. Talk to a TrueNorth personal insurance agent to find out what else can be covered in your renter’s insurance policy. 

Liability Protection

A liability protection plan can help cover your legal liability for bodily injury, medical payments, and property damage if someone gets hurt in your home. If someone does get injured while inside your home, and in turn sues you, this coverage would help with your legal expenses and any court award up to your policy limits. 

Discounts

There are even ways to receive discounts for your renter’s insurance policy. Here are a few ways to save with your renter’s insurance policy. Bundling your auto insurance with your renter’s insurance, if you live in a gated community, having smoke detectors or fire alarms, and if you are claims-free for an extended period of time.  

So here’s the bottom line...

Renter’s insurance is fairly inexpensive, especially considering all that the policy can cover. A policy typically costs around $15-$30 a month, and in comparison to the cost of everything you own or costly court expenses, getting this policy is worth it. Don’t risk everything you have. Call TrueNorth today at 319-364-5193 to speak with an agent to get a renter’s insurance policy.