By Diana Charkalis
Many renters assume their belongings are covered by their landlord’s insurance policy; however, this is not the case. The landlord’s policy usually only covers damage to the building itself, but not to what’s inside.
Anyone who can’t afford to replace potentially all of their possessions should consider renters insurance, says Janet Ruiz of the Insurance Information Institute. And renters insurance is more affordable than you might think.
Check out these three situations where the right renters insurance might really make a difference for you:
You have expensive tastes. How much do you love your designer couch or your enormous flat-screen TV? If the answer is a lot, a renters insurance policy could be super important for you. Your policy cost is largely determined by the coverage you’ll need for things like furniture, clothing, bikes, electronics and other personal items. That said, Ruiz notes that an insurance policy is a good idea for anyone who rents. It can be as affordable as $4/week.
You live in a high-risk area. Renters insurance means your belongings will be covered when disaster strikes — hurricanes, fires and the like. Renters insurance typically covers your belongings in a myriad of other situations as well — from personal injury to theft and burglary.
Important to note: A renters policy usually won’t cover damage to the actual building—that’s covered by your landlord’s insurance. And some high-value items like jewelry and computers may need extra coverage.
You like to travel. You might be surprised to learn that renters insurance travels with you. The right coverage includes liability protection for you and any family member living with you anywhere in the world. It also covers credit card loss and anything stolen or damaged while you’re away from home. Any items that you take with you could potentially be covered.
Did you know you can get a renters insurance policy for as little as $4 a week? Amica Insurance makes it easy to get a quote and they offer affordable protection for all of your belongings, along with award-winning customer service. Visit AmicaQuote.com today to learn more or get a quote from Amica.
Diana McKeon Charkalis is a Yahoo Storyteller. Her work has also appeared in USA TODAY, Prevention and The LA Daily News.