While it may not be required by law in your state, some landlords will require you to have coverage and conditions will be listed in your lease. If you don’t have insurance, your landlord has the right to end your lease, and it can then be difficult to find a new place to live.
If you don’t have a lot of financial savings, you may think you don’t need to spend the extra money on renter’s insurance, but that is precisely why you need it. If you don’t have a lot of savings, anything that could go wrong means you could suffer a substantial financial loss. You don’t want something like your neighbor's home catching on fire to affect you. If your rental unit is damaged, it can be expensive to find a new temporary place to stay. With your renter's policy, you and your family can afford a place to go.
Renters insurance will cover your personal belongings if they are damaged by an event listed on your policy. This usually includes fire and vandalism. This may be the main reason why you would want to get renters insurance, but it’s not the only thing that it covers. It can also include your liability if you accidentally start a fire, or if someone gets injured in your unit. Speak with an agent at Chambers Bay Insurance Group to see what your policy can cover.
Renters insurance is surprisingly affordable. For most, it’s equivalent to the cost of two lattes a month. Renters insurance will not cover your roommates. You can add your roommate to your policy, but it’s a good idea to have them get their own policy, so any claims they make don’t affect you later.
Contact Chambers Bay Insurance Group to get a quote on renters’ insurance.