Why You Need Tenant Insurance
We can understand the hesitancy - it’s another added cost, up there with utilities and phone bills, and there’s the belief that “you’ll be fine without it.”
However, as more people are staying home during the pandemic, recently our country has seen an upswing in kitchen fires and property floods.
We often reframe these types of statistics as “...but it won’t happen to me.” Nevertheless, it is an investment that can save you from those worse case scenarios.
Consider a water leak three floors above you. It is completely out of your control, yet, the damage may trickle down to your unit. Your furniture, belongings and valuables become the casualties.
Be aware that tenants are not protected under their landlord’s policy. Their policy only protects the structure of the property, not the tenants’ belongings.
It is important that third party liability is included in your coverage. If the issue does begin in your unit, such as a fire for example, you may be responsible for the damages not only to your unit but other affected properties in the complex. That could be a significant amount to pay out of pocket!
Shop around and find the right policy for you. There are affordable options if price point is important. Remember, no one wants to use their insurance, but they’re always thankful they had it.
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