Should you get Renters Insurance?
There are many types of insurance that people get to properly manage risks associated with living. Auto insurance, home owner’s insurance, health insurance, and life insurance are a few common types of insurance. But what if you are renting a home or an apartment? Renters insurance is a perfect way to protect your personal belongings. What are the benefits of renters insurance?
The Main Benefits Of Having Renters Insurance:
- Renters insurance protects your belongings in case of fire, theft, loss, or damage. In the event that something does happen to your personal belongings, renters insurance will reimburse you for that loss. Generally, the policy will have a maximum amount they can pay out on a particular item. Check with your insurance broker for a detailed policy coverage breakdown to ensure you are fully covered.
- It’s not crazy expensive. Renters insurance typically comes out to $150 – $200 for the year but can be as low as $90 per year for the most basic coverage.
- If you move while your policy is still valid, you are able to transfer it over to your new address. And your belongings will be covered for the move.
- Most policies will cover broken computers… This means if your screen dies or you need to replace that $1500 computer you should be covered. Just check your policy to make sure this is included.
Renter’s insurance may seem like an additional cost but will save you money in the long run. If something were to happen to your belongings and you did not have any coverage, it would end up costing you more. Whether you are a homeowner or are renting an apartment, renters insurance is essential. Renters insurance will generally cover your belongings from theft, damage, and loss but depending on your policy, it can cover more even more.
Ask your auto insurance carrier to give you a quote with a coverage breakdown, MerGo Property Management recommends Titan Insurance. Titan is independent insurance brokerage located on Boylston St in Boston, they provide great service and competitive pricing. You can visit them at www.titaninsured.com