If you are renting property you are probably wondering if you should get a renters insurance policy. In some cases your landlord will require that you get a policy, but in other situations it will be completely up to you if you choose get renters insurance. In most cases, getting renters insurance is highly advised. Here are some reasons why you should always carry insurance.
1. To Insure Your Personal Belongings Inside The House
Some renters mistakenly think that if the landlord has insurance on the property it means that their personal belongings are insured as well. This is simply not true. If the house were to burn down, the landlord could access their homeowners policy to rebuild the house, but the renter wouldn't be able to tag onto their policy. You would have no way to get back all the money that you lost in the fire if you don't have your own policy.
When you purchase a renters insurance plan you will value all of your belongings inside the house. That way if something were to happen, you can get back all that you lost in personal property.
2. To Protect You In The Case Of A Lawsuit
Another important reason to have renters insurance is that it will protect you if there is a lawsuit against you. Assume that someone is visiting your house and falls and breaks their back. They might choose to sue you for the medical bills and their pain and suffering. If you don't have an insurance policy you will have to cover all of the expenses for the lawsuit yourself, which could be massive.
When you do purchase a renter insurance policy make sure that there is liability insurance. This will help to protect you in the case of an accident.
3. To Insure Belongings On The Road
Some renter's insurance policies will have an extra part that will insure the belongings while they are on the road. For instance, if you are moving and your moving truck crashes and your belongings are damaged, you may not have any way to recoup your losses, unless you have some sort of insurance. In your renters insurance policy you can get insurance for your belongings while they are on the road. This is very helpful for people who move a lot.
These are just a couple of the many reasons you should always carry renters insurance if you are renting property. For more information, contact companies like Central Florida Insurance Agency of Town 'N' Country.