Monopoly House - Homeowners Insurance

Three Reasons You Need Renter’s Insurance

Whether it’s an apartment, house, or office, renting is a convenient way to make sure that you have a space to call your own without all of the responsibilities of owning. But that doesn’t mean there aren’t downsides. When you rent, there are a number of potential situations that can lead you to lose money. Here are three reasons renters need to protect themselves with renter’s insurance from ABCO Insurance Agency.

Neighbor’s Mistakes

The first thing that can lead to problems in your rental are your neighbors. Especially in an apartments or condos, your neighbors can wind up ruining your belongings. For example, an upstairs neighbor accidentally leaves the bat running and water pours through your ceiling, ruining your computer or TV. Another example would be a neighbor leaving a candle lit close to a shared wall. If the wall catches fire, it can hopefully be contained, but you still might wind up with damaged or destroyed belongings. Renter’s insurance makes sure you don’t need to pay out of pocket to replace what was lost in an instance of neighborly destruction.

Displacement

Say the above examples ruin your apartment or condo. Where are you going to go? You’ll have to get a hotel room until the apartment is restore or you find a new place to live. You’ll have to replace everyday items like toothpaste and pay for someplace to rest your head. With renter’s insurance, you can get coverage that ensures you’re not going broke and paying through the nose if you’re displaced from your rented space.

Burglary

Another potential problem in a rented space is burglary. If someone forgot to lock the main door to the building, or someone managed to get a hold of the building owner’s copy of your key, or someone just broke into your space while you were away, you’ll have to recover the items stolen. Renter’s insurance makes sure that your stolen items are not being replaced by you, out of pocket.

Contact Us

If you rent, you need renter’s insurance to protect you from the unexpected. So, contact our team today to discuss a plan that will work for you!

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