Many people believe since they do not own a home, they do not need insurance. They are under the mistaken impression they are covered by their landlord’s insurance. The truth is, your landlord’s policy only covers the building itself. Once a renter enters a home, the landlord changes their insurance policy from a homeowner’s policy to a rental property. This means that the policy will only cover the structure, not the contents or the tenant’s belongings. Renter’s Insurance in Austin TX is recommended for all renters for numerous reasons.
Some renter’s think their stuff is not worth insuring. They don’t believe the total amount would be high enough to justify purchasing a policy. However, most policies run less than $200 per year. If you don’t believe your stuff is worth insuring, it’s time to do an inventory of your apartment.
In the case of a devastating fire, all of your belongings could be destroyed. Your landlord’s insurance will not replace any of them. Start in the kitchen, think about replacing your dishes, silverware, dish towels, pots, pans, and all the food in your fridge and pantry. Next, move on to your bedroom. You’ll need a new mattress, sheets, and comforter. Of course, all your clothes will need replacing, not to mention the dresser and your shoes. The expenses pile up quickly. The average 2 bedroom apartment is estimated to hold over $25,000 worth of belongings.
It’s important to know that renter’s insurance does not just cover your belongings. If someone trips in your apartment and is injured, you could end up owing medical bills. Your renter’s policy will help cover those bills. If you accidentally leave the tub running and the water crashes through the floor to the apartment below. You are responsible. Without a renter’s policy, you’re stuck footing the bill for those costly repairs and replacing your neighbors damaged furniture.
Patrick Court can assist in all your insurance needs. A quick visit with Patrick can clear up all your questions and concerns about rental insurance. Do not get stuck with huge bills because you were uninformed. It’s time to learn about your options for Renter’s Insurance in Austin TX.
