If you think you don’t need insurance because you rent, you might be surprised at how important renter’s insurance could be if something happens. While the landlord’s insurance policy will cover the building, it may not pay for replacement of your personal items. ASA Insurance can help you determine if you need renter’s insurance and how much coverage.
Why You Need Renter’s Insurance
A renter’s insurance policy protects you from liability if someone should get injured in your home. If there is any confusion on whether the cause was your responsibility or that of the landlord, your insurance company will advocate for you. It also pays for damage to other people’s property when you are at fault for the accident. A prime example is when a fire or water damage to your apartment goes into another unit and causes damage to another tenant’s belongings. Since you could be held liable for the costs, renter’s insurance will protect you.
Renter’s insurance pays to replace your belongings if they are damaged or lost due to many situations, including fire and theft. If you have valuable items, such as electronics or furniture, a renter’s policy can enable you to replace them. However, you need insurance even if you don’t think you own anything of value. Just imagine the cost of replacing clothing and other personal items if you have a limited budget.
How much insurance coverage you need will depend on how much you own and what other assets you want to protect. Having enough coverage provides peace of mind when a terrible tragedy occurs and can make replacing your belongings or paying for others’ expenses possible.
Renter’s Insurance is Affordable
Unlike other types of insurance that can cost hundreds of dollars, a renter’s policy is often very cheap. Depending on how much coverage you need, you may pay only a small amount each month. If you have auto insurance, you can save even more by bundling them together.
Discuss your needs for insurance with ASA Insurance. We can help you select a policy that meets your needs and budget. We can assist you in determining the amount of coverage you need and answer any questions about insurance you may have. Give us a call today at 801-486-7463 to get a free quote.