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The Importance of Investing in Renters Insurance

Why You Need Renters Insurance

Nowadays, it is very common for individuals to rent homes or apartment units. Renting allows many people the flexibility to live where they want for a certain period of time. It also gives them more financial and personal freedom than owning a home would. When you rent, you do not own the space. It belongs to a management company or a landlord. When property management companies and landlords rent out their spaces, they require their tenants to purchase renters insurance in most instances. Renters insurance helps protect your personal belongings, something that your landlord’s policy won’t cover in the event that a disaster strikes, theft occurs, or there is a potential lawsuit at hand. Here are some reasons why having renters insurance coverage is essential. 


Disasters typically come without warning, and can cause serious damage to where you live. Even with enough forewarning of an oncoming natural disaster, it may not be possible to bring all of your belongings with you, especially larger pieces of furniture. Without proper coverage, you may experience great financial loss if the things inside of your home become affected. Renters insurance covers your belongings in the event that there is damage caused by fire, lightning, a windstorm, and more. 


Our homes are places where we keep some of our most valuable personal belongings: electronics, jewelry, clothing, furniture, appliances, etc. It’s estimated that there is a home burglary every 13 seconds in the United States. While you may try your best to prevent this from happening, you need to be prepared for it if it does. In the event that your home is burglarized, renters insurance comes to the rescue. Rather than incur the cost of loss, you can recover the value of the stolen items. It is important to take inventory of your possessions and their value prior to moving, so that you can determine what type of coverage you need if something happens. 


Accidental injuries can occur in and on your personal property. To protect yourself in the case of a liability lawsuit, purchase renters insurance. The medical costs of the injured person would be covered under your insurance policy. It is important to note that if you or a family member becomes injured, you can’t use renters insurance for coverage, but rather you own health insurance. 

Additional Living Expenses

Having renters insurance can cover the costs of housing in the event that your property is damaged and unlivable. It can also temporarily cover the costs of things like groceries and storage. 

Get Renters Insurance Coverage With Nickerson

Don’t put yourself and your possessions at risk! Your belongings are likely worth a lot more than you realize, therefore they should be properly protected. Choosing to invest in renters insurance is the difference between security and disaster. If you are moving into a new space, consider a renters insurance policy from Nickerson Insurance. Our knowledgeable agents will walk you through the entire process and help you determine the policy that is best for your lifestyle. We offer the coverage you need at a competitive price. Visit our website to receive a quote or contact us to schedule an appointment. We look forward to serving you!

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