800 222 8711 Contact Us Join Mail List Secure Mail Submit a Claim
Search magnifying glass icon
 
     

Renters...you need insurance, too.

Feb 09 2017

What happens if…

- at a party, someone slips and falls injuring their back.
- your jewelry and electronics are stolen in a burglary.
- you cause a fire or water overflow damaging your apartment and other units.
- a pipe bursts causing damage to your furniture and possessions.


According to a survey by Apartments.com, 58% of renters don’t purchase tenants insurance...often because they didn’t know that it existed or thought it was expensive. Yet, the average cost for a policy covering $20,000 in personal property and $500,000 of personal liability is approximately only $200 a year. That’s less than $17 a month or 55¢ a day. If you reduced going out to eat by one time a month, you could pay for renter’s protection.  And, if you skip a “big night out”, you could pay for the entire year of coverage in one night.   

Your landlord’s insurance does not cover your personal belongings. It's a common misconception that your landlord's policy provides coverage for you.  It doesn't! If you don’t have a policy because you’re trying to save, imagine having to spend thousands of dollars to replace your possessions. Sometimes people don't by renter's insurance because they think their stuff isn't worth that much. But, don’t focus the “actual current value” of what you'd get if you tried to sell all your possessions. Instead, think about what the “replacement value” of what it would cost to by everything new, which is what can happen if there is a fire.  

It’s not just about your stuff.  It’s about your being sued. If a person is injured in your home or you damage someone’s property, you could easily be sued. Not only will you have to pay to defend yourself, but if found responsible, your assets plus current and future wages are at risk.  If you don’t have renter’s insurance, but are thinking you should have it, don’t procrastinate. Get more information and a custom quote. For a list of 5 things to consider when looking at renters insurance, visit dfmurphy.com/rentersinsurancetips.

 

Comments
Total: 0 Comment(s)