3 Scenarios Where Renter's Insurance Would Help You
If you are renting property, you might be wondering whether you should invest in renter's insurance. The answer? You should always carry insurance when you are renting. Here are some scenarios where renter's insurance will protect you.
1. Someone Falls Down the Stairs at Your Home
Imagine that you have some guests over to your house for a dinner party. One guest is walking on your stairs, and there happens to be some toys left on the stairs, which they trip over. In the process of falling, this person breaks their shoulder, and they end up needing surgery. In order to recoup their medical costs and lost time at work, this person files a personal-injury lawsuit against you. Although this sounds extreme, these kinds of things happen often. If you have renter's insurance, you can access the liability coverage and get help paying for the accident. Your coverage can assist you if there is a lawsuit filed.
2. The House Has Mold, and You Need to Stay at a Hotel While It Is Cleaned
Now consider that you discover mold in the house. The landlord is happy to have a remediation company come in and take care of it, but the process will take a few days, and during that time, your house will be uninhabitable. You will need to stay at a hotel or find temporary housing for that time. However, you will still need to pay your rent as well as the hotel fees. You can access your renter's insurance policy to help pay for the hotel. If there is any kind of disaster due to which you cannot live in your home, you might be able get help so that you don't go broke having to pay rent for two places at once.
3. The House That You Are Living in Catches Fire
If the house that you are renting has a house fire or some other kind of tragedy, you might be at a loss since all of your belongings were inside the house when it happened. The landlord would use their own home-insurance policy to help rebuild the house, but this policy would not cover any of your things. You are completely responsible of your own things, and that means that you could experience significant financial losses. Paying just a little bit a month in renter's insurance could protect you.
As you can see, there are many scenarios in which renter's insurance can help you, and that is why you should never be without it.
Share
