Some may argue that if you are renting then renters insurance is not required. However, this is not the case. If you are renting then you do need insurance!
For example if you have a house fire, even a small one, your landlord’s insurance will pay for the building and other real property but not your personal property. If you are someone who is relying on your landlord's insurance if something where to happen you might end up losing more money and resources than you thought.
According to a study done by Independent Agent more than 81 million Americans rent and 50 million do not have renters insurance. Renters insurance isn’t as expensive as you may think, averaging around $144 a year, for $30,000 of property coverage and $100,000 of liability coverage.
Now think about the alternative. Not having renter's insurance. Recently my family had a minor house fire and almost everything in the house needed to be cleaned or replaced. Food, electronics, cosmetics, clothing, furniture, carpets, wall hangings and more all needed to be cleaned or replaced. Walls had to be sealed and painted to trap noxious fumes and to top it all off, my family was forced to live in a hotel for almost five months, eating each meal out. Think of that cost! It makes the cost of insurance pale in comparison. In fact it turned out to be a very good investment.
Here at Altoserv we are constantly reminding you of natural and other disasters and the need to be prepared. Recently, I was shocked to find out that most renters think renters insurance will not cover disasters. Be that as it may, the truth is you can get a renters policy (generally known as an HO-4 policy) that typically provides policyholders with a fixed amount for all your possessions and provides coverage for specific “perils” such as: fire or lightning, windstorm or hail, explosion, riot or civil commotion, aircraft, vehicles, smoke, vandalism or malicious mischief, theft, damage by glass or safety-glazing material that is part of a building, volcanic eruption, falling objects, weight of ice, snow, or sleet, water-related damage from home utilities, and electrical surge damage.
So you can see that most perils are covered. You should consult your agent as to specifics for your own policy to ensure adequate coverage.
And you should open an account with Altoserv and start preparing for your current claim or a future one.