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Are you a renter? If so, do you have renters’ insurance? According to a Rent.com survey from 2013, U.S. News reports that 60 percent of renters do not have a renters’ insurance policy. Renters’ insurance is very important, because it covers damage to your belongs from fire, theft and other natural disasters, can provide temporary housing expenses, and offers liability coverage if a visitor is injured in your home.
If you’re a renter without renters’ insurance, you may be wondering if this is an expense you can split with your roommates. According to ApartmentRatings, it’s a good idea for single roommates to each have their own separate renters’ insurance policy. Your renters’ insurance policy will likely not cover roommates’ and their belongings, and your roommates’ policies will not cover you and your belongings. It’s also a good idea to check with your landlord to see if they require any specific coverages in your policy. And remember, a landlord is not responsible for their tenants’ furniture or other belongings if a fire, theft or other natural disaster does occur. A landlord’s insurance policy only covers the building itself, not the contents of rooms or apartments rented by tenants.
Now is the time to think about renters’ insurance and how it can help protect your belongings. Many renters’ insurance policies have small premiums, but can provide a big financial safety net in tough times. Many insurance carriers will often offer special savings if you bundle your renters’ insurance and car insurance together. If you’re interested in learning more about why you need a renters’ insurance policy, or to arrange the right coverage, visit www.jasonwrightinsurance.com to learn more, or contact us today to get started.