Renters Insurance Coverage Protects Your Belongings

Imagine you get home from work and find that your apartment has been broken into. After overcoming the initial shock and outrage, you walk through your home, room-by-room, to assess the damage. The thieves made off with your TV, stereo, CD and DVD collections, bike, they even stole some jewelry and clothes. Think it can't happen to you? Think again. According to the U.S. Department of Justice, people who rent were victims of burglary 79% more than those who own their own home.

Renters insurance coverage is just the thing for renters who want to protect their finances and their personal possessions.

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Why You Need Renters Insurance Coverage

Think about all your personal belongings. When you consider the value of your furniture, clothing, electronic equipment, CDs, DVDs, etc., the numbers really start to add up quickly. If your home were burglarized could you afford to replace all the property that was stolen? Most people simply can't afford to replace all their belongings at once. So you can dip into your savings and begin the slow and expensive process of replacing your stolen items one-by-one. Or, you can protect your personal property with renters insurance coverage. Remember to take a home inventory of your belongings to speed up the claims process, just in case.

Renters Insurance Coverage from Your Landlord's Policy?

Many renters mistakenly presume that their landlord's policy will cover their property losses. Unfortunately, this is not the case. Most landlords' policies only cover the building and the building infrastructure. They do not extend to their tenants personal belongings. What's more, once a guest enters your home, you're liable for any injuries they may sustain while in your home.

What Renters Insurance Coverage Includes

Renters insurance coverage is the most viable solution to protecting your belongings. Renters insurance coverage includes personal property losses against a variety of perils including theft, vandalism, fire or lightning, windstorm or hail, smoke, water-related damage from home utilities, electrical surge damage and more. Renters insurance coverage also provides liability coverage against a claim or lawsuit resulting from a bodily injury or property damage to others caused by an accident on your property. In addition, most renters insurance coverage policies will provide living expense assistance if your home becomes uninhabitable due to a covered peril.

Renters Insurance Coverage is Affordable

Renters insurance coverage is relatively inexpensive and you may well qualify for a variety of premium discounts. The average premium for $30,000 of property coverage and $100,000 of liability renters insurance coverage is only $16 per month. When you do the quick math you can see that you can buy a renters insurance coverage policy that will protect tens of thousands of dollars in possessions for only a few hundred dollars a year.

You can take measures to lessen the risk of having your home broken into. Installing a deadbolt lock on your front door (if you don't have one already), adding window locks and installing a burglar alarm are great ways to ward off potential intruders. But even if you are victimized by a thief, at least you can take some comfort knowing that your personal belongings will be protected with renters insurance coverage.

To find the best rates on renters insurance coverage, compare multiple renters insurance quotes here at InsWeb.com.