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If you don’t own your own home yet, you may be thinking that insurance for your property isn’t important or necessary.  We’re here to share 5 reasons why you need renter's insurance.  And the good news is, it’s really affordable!

It can be easy to assume that if you are renting and don’t actually own your property, insurance isn’t needed.  While the physical property will be covered under your landlord's policy should something happen, it will not cover the loss of your personal property within the home.

Do I Need Insurance If I’m Renting?

1. Coverage for your personal belongings.  If you were to have a fire, flood, or theft, your personal property may be damaged.  Renter's insurance would provide coverage for things like electronics, clothing, furniture, and more.  These things add up quickly and in the event something unexpected happens, you’ll be happy to have insurance to help cover the cost of replacement.
2. Liability for injury.  If someone is injured while visiting you, you could be liable for their medical expenses.  Whether the injury is an accidental dog bite or someone simply tripped and fell, covering expensive medical bills is probably not something you want to do out of pocket.  
3. Additional living expenses.  If the apartment or home you’re renting suffers damages that cause it to be unlivable, you may temporarily be displaced and need to pay for additional expenses.  Renter's insurance will cover expenses including lodging and food while your rental property is being repaired.
4. It’s inexpensive.  If we told you that you could insure your belongings and protect your personal liability for around the cost of your weekly latte, you’d do it!  That’s right, most renters insurance is only $15-$30 a month.
5. You’re not covered by your landlord.  This is a common misconception.  The landlord's policy will cover the physical property, but it does not include damage to your belongings.

Even if it’s not required by your property management company, these are 5 reasons you need renters insurance.  Protect yourself from damage to your belongings and legal liabilities with an affordable policy.

Compare Renters Insurance in Virginia

If you are renting and need a new policy or want to make sure you have the best rate and coverage, EZInsurance Advisor is here to help.  After downloading our free e-book, you can work with a member of our team to compare rates and find the best policy for you.  There are so many good reasons to have renters insurance and we’re here to make it easy for you!