You pay good money for your place so the thought of spending more money sometimes seems silly but let’s talk about why you might want to consider renter’s insurance still.
Your property insurance doesn’t cover your belongings.
This is the best way for your to protect your belongings. You never know when a natural disaster will take place, a break-in or other unplanned catastrophe.
The question at hand is do you have enough money stored outside your dwelling to replace it all? Almost everyone I know would say NO to that question. You’ll probably want help replacing furniture, technology, appliances, belongings, which sounds like thousands of dollars.
So what does renters insurance cover? It covers your possessions from common incidents:
- Weather – snow storms, high winds, hurricanes, natural disasters that can cause damage to apartments and property. You landlord’s insurance will cover for unit repairs but won’t reimburse you for the loss of your valuable items.
- Third party damages and property damage – this is for you and for visitors as well as medical damages resulting in injury.
- Fire, explosion and smoke – once your property has this kind of damage, it almost always has to be replaced.
- Water damage – it may be covered depending on the policy.
- Theft and vandalism – if the property is destroyed or defaced, this covers the cost of replacing it.
- Short term housing costs – this can cover hotel costs in the event of damage.
It is always hard to force the collective cost of your belongings but it would surely cost you less than having to buy it all again. Even if you think your stuff isn’t replacement worthy, it adds up fast when you are talking clothing, appliances, furniture, etc. Kitchen stuff alone can add up quickly.
The perks are clear, you need renter’s insurance so you don’t have to worry about the what if’s of an emergency.
All my best,
Picket Fence Properties, located in Windsor, CO is Northern Colorado’s Top Notch Property Management company helping owners with their rentals, income/investment properties and vacancies in Northern Colorado. Are you a owner of a home for rent or that you’d like us to manage? We help you have the perfect tenants in NoCO. Are you looking for somewhere to rent in Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone? Look no further, we have all your real estate and rental needs covered. Check out website for vacancies today.