The importance of insurance is not a new thing. It is needed in all aspects of life. Home, life, car and medical insurance coverage are very important and necessary to protect and fund you in case of accident or emergency. Even as important as taking insurance is, many people never considered it necessary. According to research carried out in 2014 by the ORC International, only 40% of tenants have renter’s insurance while more than 90% of homeowners have insured their home.
We discovered the reason why fewer renters insured their property is that most people do not know the importance of tenant insurance policy. Therefore, most renters think the home insurance policy taken by the Landlord would cover them during an emergency. No! That is wrong. The type of insurance taken by the homeowner is to cover any damages to the building, not tenant’s property. For this reason, we have taken our time to write something that will enlighten tenants on its importance. Below are some of the benefits of tenant’s insurance.
What people don’t know about Renter’s insurance policy is that it’s cheap and affordable when compared to what it covers and other types of insurance. In a Nationwide survey, it’s discovered that four out of five people without renter’s insurance don’t know that the monthly coverage of renter’s insurance can cost as little as a pair of a movie ticket (it depends on the size of your property). Therefore, what are you still waiting for? Go get yours as soon as possible. Stop risking losing your property, be prepared for any emergency, and Get live going even when disaster strike.
Liability Insurance is an insurance policy that can protect an individual from the danger of being legally liable for any error such as negligence, injury or malpractices. The definition of liability shows that it is definitely the most important of any insurance policy. Although, we may try our possible best to avoid liability, but these days our lives are busier which make our attention span to be shorter. This makes it very easy to make mistakes that may cause great damage to people around us. Therefore, taking renter’s insurance will protect us against anything like liability and even if there is one, you won’t be affected.
Another benefit of taking renter’s insurance is that you will have an advantage over others when looking for a property. Most homeowners want to be sure that you can pay for rent even when you are passing through difficulties. Moreover, taking a renter’s insurance can be use to prevent a rent increase. This is because homeowners can only ask you for renter’s insurance when signing a new contract or renewing existing ones. Therefore, you should go for a renter’s insurance and increase your chance of getting a property as soon as possible.
I believe that after you have read this article, you will have decided to apply for renter’s insurance. However, before you apply, there is one more thing you should know… Tenant’s Insurance varies, and for this reason always ask an expert for the most appropriate policy.