Why You Need A Renter's Insurance Policy

Why You Need A Renter’s Insurance Policy

Tips for Buying Renter’s Insurance

Renting a home, no matter if it is an apartment, condo, or house is a great way to have your own space if you are not quite ready to buy. However, just like owning a house, renting a home comes with large responsibilities, including making sure that all of your personal belongings are protected. Buying renter’s insurance is the best way to protect your assets. There are many reasons that you should invest in a renter’s insurance policy, including:

  • It is cheap –renter’s insurance is one of the most affordable insurance policies out there. For under $300 a year, you can get enough coverage for all of your needs. If you bundle your renter’s insurance policy with another policy, such as your auto insurance, you can save even more. The actual cost of your policy depends on many factors, including the cost of your deductible and how much coverage you need.
  • It is more cost effective than replacing your belongings – if someone breaks into your house, you will be responsible for everything that is stolen if you do not have renter’s insurance. With a renter’s insurance policy, you will simply have to cover the cost of your deductible to replace everything that went missing.
  • It provides more than just personal property coverage – renter’s insurance also provides liability protection, which will cover any medical and lawsuit costs that you may incur if someone is injured while visiting your house.
  • It may be tax deductible – if you operate a business out of your rented home, you may be able to deduct a percentage of the dwelling space that you use for business purposes from your taxes.

When looking for the right renter’s insurance policy that will provide the coverage that you deserve for your home, contact the independent insurance professionals at Velox Insurance in Atlanta, Georgia.