The Importance of Renter’s Insurance

By chrisrath • July 7th, 2010

Everyone who rents a house or townhouse should carry renter’s insurance.

Renter’s insurance is an insurance policy that covers the tenant of a rented house. This policy covers the renter’s personal possessions, but not the home they rent. It covers all the tenant’s belongings, such as electronics, furniture, appliances, clothing, and other personal property.  Some policies even cover accidents that happen on the rented property.

Renter’s insurance is very important to have when living in a rented home. Some renters think that they are covered by the homeowner’s insurance, but most of the time the homeowner only has a policy that covers the house being rented. The homeowner’s policy usually does not include the tenant and his or her belongings.

Renters should have their own insurance to cover their possessions from disasters, such as fire or flood. If a disaster happens, the homeowner’s insurance will only cover the cost of repairing or rebuilding the house, not the renter’s things.

Renter’s insurance usually covers the tenant’s property against theft and vandalism, too. Tenants with renter’s insurance will sleep better at night knowing if anything bad happens, their things will be replaced or they will be compensated for any damage.

Renter’s insurance is generally inexpensive, and very necessary. It is suggested to anyone who rents a house or townhouse to pay for renter’s insurance. It is in the renter’s best interests to buy renter’s insurance for the peace of mind it brings, because the renter knows his or her belongings are safe.

About the author

chrisrath I enjoy helping people find that right home whenever faced with a relocation situation due to their job or even a major life event. Since I have access to a large inventory of homes for sale and also manage many properties in the northern Delaware region, it is easy for us to help anyone make a smooth transition into this area. I am a licensed Real Estate Agent and also manage my own company Rath Management where we locate, screen, secure, counsel, and communicate with the tenant and the investor throughout the entire leasing process to keep homes filled. Our company also manages maintenance issues, collects and forwards rent monies, and even helps with the dreaded eviction process in the event a tenant does not keep up with the terms. Chris Rath

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