If you’re renting, you need renter’s insurance. Many property managers and landlords in Summerlin require you to provide proof of renter’s insurance before moving in. Even if they don’t require it, you should still get renter’s insurance for yourself.
It might seem like an extra expense, but renter’s insurance is affordable and offers peace of mind in case something happens to your belongings. Getting renter’s insurance is a simple process. You can either contact an insurance agent or go online to compare policies. Here are five reasons every renter should have renter’s insurance.
Your landlord’s insurance doesn’t cover your belongings in the event of a power outage, fire, flood, theft, or other disasters.
Your landlord’s insurance likely covers only the property, not your personal belongings. If a fire or flood damages your apartment, you’ll have to replace items not covered by renter’s insurance.
Renter’s insurance is relatively cheap and can be customized to fit your needs.
For under $20 per month, you can secure a basic renter’s insurance policy. If you possess high-value items like jewelry or art, you can include extra coverage for their full protection. This low cost ensures your financial security in case of unforeseen events.
You can also personalize your renter’s insurance policy to include liability coverage, protecting you if the property is damaged by you or a guest, or if someone gets injured and sues you. If you live with roommates, they must get their own policies, as your renter’s insurance does not cover their belongings.
Each adult living in the rental should have their own renter’s insurance policy.
Most renter’s insurance policies cover temporary living expenses if you have to move out of your apartment due to a disaster.
If your apartment is unlivable because of a fire or flood, your renter’s insurance will likely cover hotel costs or other temporary living expenses. This can be a great help if you lack the funds to cover these unexpected expenses.
Renter’s insurance can help you recover if something happens to your belongings. If you lose all your belongings in a fire or theft, renter’s insurance can help replace them. This can be a significant help if you don’t have the money on hand to replace everything at once.
Renter’s insurance can also help replace important documents, like your passport or birth certificate, if they are lost or destroyed. Losing these items can cause financial hardship and make them difficult to replace.
Having renter’s insurance gives you peace of mind, knowing you’re covered in an emergency.
Nobody likes to consider worst-case scenarios, but accidents and natural disasters happen. And if something happens to your belongings, it’s nice to know you have coverage. Renter’s insurance ensures peace of mind, knowing you’re protected in an emergency.
An excellent manager is essential for stress-free property ownership for landlords and property owners. At Real Property Management Peace, we handle every property seriously and aim to exceed expectations. Reach out to us or call 702-848-2509 for top-notch services in Summerlin and nearby areas.
Originally Published on June 24, 2022
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
