Renting your first apartment is not only an exciting event, but it can also be costly and slightly overwhelming. When you rent an apartment, you will need to call the utility companies to get your utilities turned on, and you may have a long list of other things to do. One of the other things you might have on your list is calling an insurance company to get renter's insurance. This is something tenants often skip doing but having renter's insurance is really important when renting an apartment.
Why do you need renter's insurance?
Getting renter's insurance is not typically a mandatory requirement when renting an apartment; however, it is something that is highly beneficial to have. When renting an apartment or house, the owner of the unit will have insurance for the structure. If anything happens to the house or apartment, the owner's policy would protect him or her. The problem is that this insurance offers no protection to the person living there. If the apartment you live in is destroyed by a fire, you would have no protection for the things you owned if you did not have renter's insurance. Living without this type of coverage requires taking a huge risk.
What does renter's insurance cover?
When you call for a renter's insurance policy, you should make sure it provides the following types of coverage:
You can choose the amount of coverage you want for these categories, and you might have the option to choose other types of coverages too.
How much will it cost?
The good news is that renter's insurance is usually very affordable. According to Forbes, the average renter's insurance policy costs around $184 per year. Spending $184 per year for coverage is a minimal amount to pay for protection of your things and a sense of assurance knowing that they are protected. To get a free quote for renter's insurance, talk to a home insurance agent today.
Contact a company like Bishop Insurance Agency for more information and assistance.