If you rent your home, then we at Morco Insurance Agency strongly encourage you to get renter’s insurance. While the owner of the building has insurance to cover damage to the property itself, that policy will not cover damage to the personal belongings you keep in your home. In this article, we will go over a few reasons why you need renter’s insurance.
- Replace Damaged or Stolen Items – One reason why you need renter’s insurance is because buying insurance is cheaper than replacing damaged or stolen items. This kind of insurance protects the personal belongings you keep in your home, including furniture, electronics, and more. If any of your stuff gets damaged or stolen, your renter’s insurance policy will help pay to replace it.
- Protect Yourself from Liability – Another reason to get renter’s insurance is because, like home insurance, this type of policy includes liability coverage. In other words, if someone else gets hurt while in your home, your renter’s insurance will help pay for any legal charges they may bring against you for it. This will help you avoid heavy legal fees and damages.
- Cover Temporary Housing Expenses – A third reason to invest in renter’s insurance is because it will help cover the costs of temporary housing should your home become uninhabitable for any reason. For example, if your building needs to be treated for termites, your renter’s insurance policy will help cover the costs of a hotel or other temporary lodging while the termite treatment is taking place.