Do You Really Need Renter’s Insurance?

No one wants to pay more bills each month than is necessary. You are always looking for ways to cut costs. So, the question comes up about renter’s insurance in Newtown,PA. Is this really a necessity? Sure, your landlord has mentioned it, and you’ve seen advice that tells you this is a good idea. What you want to know is if this is truly in your best interest.
To determine this, first, take a look around your house or apartment. Take a tally of all of your possessions including your:
·         Electronics
·         Appliances
·         Furniture
·         Home Furnishings
·         Jewelry
·         Tools

Get a ballpark of the total value of your belongings—what they’re worth now and what it would cost to replace them. Think about what you would do if something happened, like a fire or theft. Do you have the money on hand to replace these possessions, or would you have to do without? With renter’s insurance, you have protection in the event of a disaster. While no one wants to live in fear, being covered puts your mind at ease—just in case.
A disaster may leave you temporarily homeless. However, with renter’s insurance, you benefit from coverage—for a place to stay, as well as food, while your home is undergoing repairs.
Renter’s insurance covers other calamities besides disaster. For instance, liability. Should someone get injured while in your home, your insurance policy could cover liability, such as medical costs and legal expenses. If the worst happens, paying this out of pocket is probably not an option. Now, you can protect yourself from possible incidents by budgeting a small amount each month or every six months.
Renter’s insurance is not all-inclusive. It’s best to talk to an independent insurance agent to find out how this would work for you. Ask questions about cost and coverage, citing specifics. Also, work with this agent to determine exactly how much insurance you need. An independent agent gathers and weighs price quotes from a number of carriers, so you get the best deal.