Four Reasons Why You Should Consider Renter’s Insurance | Focus 1 Insurance Group

Four Reasons Why You Should Consider Renter’s Insurance

When you’re renting an apartment or home, it’s likely the case that your landlord’s property insurance doesn’t cover your personal property or potential liabilities. Luckily, renter’s insurance is affordable and prepares renters for the unexpected. Here are four reasons why you should consider getting renter’s insurance.

It Covers Personal Property Losses

A small apartment with a blue sofa and big windows

Renter’s insurance policies protect your property from a surprisingly wide range of potential incidents, including fires, hail, vandalism, and theft. Even if you don’t think you own many expensive items, the values of your electronics, clothing, furniture, and other items can quickly add up. Please note that losses due to flooding are not covered under standard renter’s policies, and you will have to get additional protection if you live in a high-risk area.

It’s Affordable

One of the major reasons renters often don’t consider renter’s insurance is that they think it will be too expensive. However, on average, renter’s insurance is quite affordable, costing only around $200 per year. What you pay will depend on a number of factors, such as the amount of your deductible and where you live. Your insurance agent will be able to help you decide what kind of coverage is best and which policies are most affordable.

It Provides Liability Coverage

You can’t always be knowledgeable of or responsible for what happens in your home. In the event that someone is injured in your home, your renter’s insurance policy should have it covered. Most policies contain at least $100,000 of liability coverage, though more is often available if you believe you’ll need it.

It Covers Your Belongings When You’re Not Home

Renter’s insurance policies generally cover your belongings even when you are not at home with them. In the event of theft or certain damages, it will cover property that’s in your car or with you wherever you travel in the world. When deciding on a policy, ask your agent what’s included as “additional covered losses” for more information.

If you’re renting your home in Oregon, consider getting renter’s insurance from Focus1 Insurance Group. We offer our clients a range of coverage options and services to help ensure the best rates possible. Request your free quote today, or call us at 541-772-3120 with questions or concerns.