Renters insurance (or tenant insurance) is exactly what it sounds like: insurance a tenant can have to cover the costs of broken, stolen, or damaged items in the apartment. But is it for you? Do you really need it? Let's take a look at 5 convincing facts about renters insurance that are hard to ignore.
1. Renters Insurance Protects Valuables Depending on the type of renters insurance you get, your household items (and those of your guests) can be covered in case of accidents or theft. Someone brings over a MacBook Pro and you step on it? Not a problem. Drop your tv down a flight of stairs? Don't worry about it!
2. It's Cheap. Really Cheap
Most renters insurance policies are around $10 a month, but of course you get out what you pay in. A higher cost tends to lead to better coverage, but the basic packages are generally pretty low.
3. It Protects Things You Take Out Of The Apartment
If you take your laptop to work, school, or a coffee shop, it can still be covered by your renters insurance. That's a lot better than extending the warranty on your two year old HP, and it still has all the other benefits attached as well.
4. It May Help You Relocate
Depending on your coverage, renters insurance can help you relocate to another apartment if yours happens to become unlivable. So instead of a fire leaving you out on the streets, your provider may be able to help set you up with a new pad, and even help pay for it over the next year. Not to shabby.
5. It Might Help You Relax
Think about it, if you are uninsured and the victim of theft, you simply lose your valuables. If you are insured you can easily replace them. The peace of mind is worth it alone, in my opinion.