Why Renters Need Insurance Too

What would you do if you lost everything you have except the clothes you are wearing? For many people without renters insurance, this is a real question that occurs every day. In America, only about 41% of people who rent have renters insurance, which is about 45 million people. Did you know that Netflix has over 50 million subscribers in the US alone? I know that figure includes people who own homes, but it is crazy to think that there are more people who buy a type of service to watch television in our country than those who have renters insurance.

If cost is a factor, then I say let’s look at the numbers. The average cost of this coverage varies from state to state, but ranges from $ 100 to $ 200 a year, which is the same cost as Hulu, Netflix, and Amazon Prime. How is it possible that people are willing to risk everything they own to have a video service in place? This is not even considering people who have all three.

Let’s talk about renters insurance and what it will do for you. Did you know that if someone is injured on the property you are renting, you may be liable for the damages? Renters insurance covers it. Did you know that if you were displaced from your home but still had to pay rent, you may have to pay for two places to live? That covers it too. Did you know that if a fire starts in your apartment complex and ruins all of your things, you are responsible for replacing it? I’ll give you two assumptions, but only one will count. Did you know that most companies offer you a discount for having a policy? Did you also know that because of how cheap the renters policy is along with the discount, it is often free?

How can we question whether something is needed that can prevent a situation that could change your whole life? For the cost of a great-value meal at McDonald’s, you could get hundreds of thousands of coverage. If you don’t have renters insurance, the first thing to do after reading this is contact your agent to find out what to do to get a policy. You’ll sleep better at night knowing you made the right decision!

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