For approximately the cost of lunch at a restaurant, renters insurance can protect your personal belongings and save you from paying legal or medical expenses associated with an accident in your apartment. Unfortunately, many renters believe that getting insurance is unnecessary or too expensive. We at Brunswick Companies would like to change your mind.
Why Do I Need Renters Insurance?
Replace Your Stuff
At its most basic, this insurance protects your stuff. If you don’t think you have enough belongings to warrant getting insurance, take an inventory — and not just of the big-ticket items. For example, in your kitchen, your inventory should include your dishes, linens, and food in addition to your appliances. Since the average renter in a two-bedroom apartment has about $30,000 worth of stuff, we recommend you create an inventory. Once you know how much stuff you actually have, you’ll probably change your tune about whether you want to protect it.
Pay For Damage
Renters insurance can also cover the expenses related to damage you might cause through negligence. For example, your bathtub overflows and water leaks into your downstairs neighbor’s apartment, damaging their furniture. You caused the damage (even if it was accidental) so you’re responsible for the cost of repair or replacement. Without insurance, you would have to pay out of your own pocket.
Pay For Medical Expenses & Legal Defense
What about if your dog gets loose and bites a neighbor? Or you throw a party and someone gets injured? Both are liability issues that will most likely require medical attention and the resulting expenses will fall on you. Renters insurance will make sure you don’t have to pay on your own. And if someone escalates the issue to a lawsuit, your insurance will help cover the legal fees so you can defend yourself.
Make Sure You Have a Roof Over Your Head
Your renters insurance will cover your living expenses if you’re forced to leave your home after a disaster. A fire, flood, or storm damage that causes a tree to fall through your roof could make your apartment uninhabitable until it can be repaired. While your landlord’s insurance will cover the repairs to the building, your insurance will cover the cost of a hotel stay and eating out in addition to other related living expenses.
Replace Special Stuff
Insurance carriers do put limits on some types of items, like electronics and jewelry or artwork. If you have an engagement ring or have inherited your grandmother’s mink coat, you might want to consider adding an additional personal articles policy onto your renters insurance. It won’t increase the cost of your insurance by very much, but it could be necessary to cover your more expensive stuff.
Brunswick Companies Can Help
Renters insurance isn’t expensive, especially when you can compare insurance carriers to find the right coverage and price — and that’s where we can help! Brunswick Companies has a relationship with many different carriers and we can get multiple quotes for you to review all at once. We can guide you through the process of making sure you have the complete coverage you need to feel secure, regardless of where you live in the United States.