At Mr. Auto Insurance, we understand your home is important to you, whether you own the home or rent it from someone else. Our team wants to help you protect your home and everything in it, and to do that, we offer both homeowners and renters insurance. If you are renting, we encourage you to keep reading to learn three reasons why you need renters insurance.
1. To Protect Your Stuff – One reason to carry renters insurance is to protect your personal belongings, such as your furniture and electronics. If a disaster were to strike, your landlord’s property insurance would cover damages to the building itself, but you would need renters insurance to cover damages to your belongings inside it.
2. To Protect Yourself from Liability – We also encourage you to get renters insurance with robust liability coverage. For those unfamiliar with the term, the purpose of liability insurance is to protect you and your finances if someone gets hurt on your property (in this case, the one you are renting). If someone suffers an injury while in your home, your renters insurance will cover some or all of their medical expenses, as well as cover legal damages to a point.
3. To Cover Additional Living Expenses – A third reason to get renters insurance is to protect your finances in the event you have to temporarily move out of your residence. For example, if your building is damaged or is undergoing repairs or renovations and you need to relocate to a hotel in the meantime, your renters insurance should cover your additional living expenses, such as hotel fare and meals.