Most homeowner’s have insurance to cover the house; their personal possessions and liability from negligence. This is probably because most homeowner’s have mortgages and the mortgage company requires that they carry home insurance. But renters aren’t required to buy insurance unless their landlord requires it. And most landlords don’t require that the tenant have renter’s insurance or they don’t enforce the need for it.
Whey do renter’s need protection? For the same reason that a homeowners needs a home insurance policy. Renters are subject to loss of their personal articles by theft, vandalism, fire and a host of other hazards just like a homeowner. For some tenants, there chance of loss is probably higher. My heart always goes out to the family shown on the 11 o’clock news that is watching their apartment on fire and all of their property destroyed. And so often it seems that the newsperson is reporting that the family doesn’t have renter’s insurance. But renter’s insurance covers more than just the personal property. Did you know that a renter’s policy would also give that family who is displaced due to their apartment fire money to live somewhere else until they get back in the apartment or get settled again?
Anyone who rents a house or apartment and has considerable assets and doesn’t have renter’s insurance should have their head examined! A renter’s policy provides personal liability protection. If someone is visiting the house that is being rented and drowns in the swimming pool in the backyard, do you know who is going to get sued? The renter and the homeowner. And if the renter did something negligently like not locking the gate to the backyard, then they’re big trouble unless they have a renter’s policy.
I hope I’ve given the renter’s of this world enough of a reason to call us for a policy. The cost of renter’s insurance is minor compared to the chance of a loss. Don’t wait until you’re shown on the 11 o’clock news!!