If you are renting, you should have renter’s insurance. Many Yukon landlords and property managers require you to show proof of renter’s insurance before you move in. But even if they don’t require it, you should still get renter’s insurance for yourself.
It may appear unnecessary, but renter’s insurance is inexpensive and offers peace of mind if something happens to your belongings. Getting renter’s insurance is a simple process. You can either contact an insurance agent or compare policies online. Here are five reasons why every tenant should have renter’s insurance.
Your landlord’s insurance doesn’t cover your belongings in the event of a power outage, fire, flood, theft, or other disasters.
Your landlord’s insurance most likely covers just the property, not your personal items. If there is a fire or flood in your apartment, you will be responsible for replacing items not covered by renter’s insurance.
Renter’s insurance is relatively cheap and can be customized to fit your needs.
You can get a basic renter’s insurance policy for less than $20 a month. If you possess high-value items like jewelry or art, you can include extra coverage for their full protection. This affordability secures your finances in case of unexpected events.
You can also personalize your renter’s insurance policy to include liability coverage, protecting you if the property is damaged by you or a guest, or if someone gets injured and sues you. If you have roommates, they need separate policies since your renter’s insurance does not cover their belongings.
Each adult in the rental must have their own renter’s insurance policy.
Most renter’s insurance policies cover temporary living expenses if you have to move out of your apartment due to a disaster.
If a fire or flood renders your apartment uninhabitable, your renter’s insurance will likely cover hotel or temporary living expenses. This can be a huge help if you don’t have the money to cover these unexpected expenses.
Renter’s insurance can help you get back on your feet if something happens to your belongings. If a fire or theft causes you to lose everything, renter’s insurance can help replace your belongings. This can be a great help if you lack the funds to replace everything at once.
Renter’s insurance can help replace important documents like your passport or birth certificate if they are lost or destroyed. Losing these items can be a financial setback and make them difficult to replace.
Having renter’s insurance gives you peace of mind, knowing you’re covered in an emergency.
People don’t like to think about worst-case scenarios, but accidents and natural disasters do happen. And if something happens to your belongings, it’s good to know you’re covered. Renter’s insurance offers peace of mind, ensuring you’re protected in an emergency.
A competent manager is crucial for stress-free property ownership for landlords and property owners. At Real Property Management Enterprises, we treat every property seriously and aim to exceed expectations. Get in touch with us or call 405-463-0040 for excellent services in Yukon and the surrounding areas.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
