We all own things that we love – things that we would mourn over if we lost.  It could be music collections, expensive electronics, a prized blender, a foreign painting, etc.  But as much as you love your things, do you adequately protect them?

Oddly enough, only 31% of renters out there have renters insurance.  If only renters believed the facts more than the myths, things would be very different.  So let’s clear some things up, shall we? 

One Pizza Per Month

First of all, renters insurance is NOT expensive.  Most renters can cover their belongings for the price of one delivery pizza per month. 

But even at this amazing rate, many people still think that the investment isn’t worth it.  This is because they don’t realize how valuable their belongings actually are.  On average, a renter owns about $30,000 worth of stuff!  So by giving up one delivery pizza a month, you could get back $30,000 if your apartment floods or burns.  Quite the deal! 

But my Landlord has insurance

Yes, your landlord does have insurance, but it doesn’t translate to you.  If an apartment is destroyed in a fire, flood, tornado, or whatever, the landlord’s insurance will cover their costs for the building, but it won’t touch anything that was inside – which is all your stuff.  You need your own protection.

Added Benefits

Not only will renters insurance protect your belongings, but it can cover liability.  If a guest is injured in your apartment and you are at fault, your renters insurance can help cover medical expenses. 

This type of insurance will also cover damages you cause your neighbors.  For instance, if your toilet floods and damages your downstairs neighbor’s computer, renters insurance will help cover those costs. 

Worth It

So is renters insurance worth it?  Absolutely.  Get yours today!

photo credit: Lili Vieira de Carvalho via photopin cc