When it comes to renters insurance, there's no law that states tenants must open a policy when they move into a new rented property.
However, finding renters insurance online is now easier than ever and, after reading these three reasons why it's so important, you may just decide to start searching for affordable renters insurance quotes to protect your possessions.
1) The Cost Is Negligible The first reason comes down to simple math.
Weigh up the cost of paying out for a monthly insurance premium against paying up should your contents get damaged or stolen.
Any number of things can leave you out-of-pocket but, by paying a small amount every month, you can ensure that this never happens.
If you really want to work out whether the monthly cost is worth it then add a few things up in your head right now.
Consider how many clothes you own and how much they would cost to replace from scratch.
Even the value of your clothes alone will exceed the price of your insurance.
Add onto this other items, including valuables, and you'll start to understand the need for tenant insurance.
2) You Rent A Furnished Property Some agents or landlords will insist that you take out renters insurance in order to protect the landlord's furniture.
Although the landlord will have their own insurance to protect the value of the furniture in certain events, you're 100% liable if damage occurs as a result of your own actions.
For example, if you spill wine all over their couch then you'll be liable for the cost of repairs or replacement.
Although most landlords will take a deposit to cover against such damage, some will refuse to rent a property unless the tenant also takes out accidental coverage of the landlord's possessions.
Make sure you search for renters insurance quotes that cover against such damage.
3) You Want To Protect Yourself Against Liability As well as protecting the value of your possessions, most tenant insurance quotes also include a liability element.
This will help protect you should anyone become injured while visiting your property.
Such cases may be rare, but they are almost always extremely costly! The good news is that, for such a small monthly cost, renters insurance is more than worth it.
The internet makes it easy to find the best renters insurance quotes simply by entering a few details and comparing different prices.
It doesn't take long before you're fully protected and can relax in the knowledge that you'll never be out-of-pocket should anything happen to your possessions.