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Why You Need a Renter’s Insurance Policy

Why You Need a Renter’s Insurance Policy

Every tenant needs to have a renter’s insurance policy, regardless of how safe an apartment community is. Even if your current landlord doesn’t require it, your future landlords will most likely require you to have it. It’s always better to be, “safe than sorry,” and renter’s insurance will set you up for success. Renter’s insurance is affordable, and if you are fortunate to not have to file a claim, you won’t be dumping too much money towards it. In the event you need to file a claim, you will be relieved to have renter’s insurance. You really can’t be too careful these days, so if you haven’t been convinced to take out a policy before, maybe the reasons below will change your mind.


Renter’s Insurance is Relatively Cheap

The average policy is only a few hundred dollars per year, maximum, making it a wise investment. If a crook breaks in and steals from you, you will quickly realize the amount of coverage you receive for how little you pay in premiums is astronomical. Most auto insurance providers are more than happy to bundle a renter’s insurance policy with it, which will only bring your premium down. Your auto insurance premium normally decreases to where the difference is equal to or slightly less than the renter’s insurance policy, which translates to your renter’s insurance policy being almost free. It’s basically a no-brainer at this point, and most people choose to bundle their renter’s insurance policy with their auto insurance policy.


Your Personal Items Are Protected

In the event a thief breaks into your apartment, all of your stuff is safe. Even if you aren’t materialistic, you most likely own more than you think and it probably adds up to a few thousand dollars. Most people don’t discover this realization until after they have acquired a renter’s insurance policy. Most people don’t have the cash flow to replace everything they own in the event of a robbery, and when a policy only costs a few hundred dollars each year, you’ll be pleased to be able to recover a few thousand dollars worth of possessions should you have to file a claim.


It’s Becoming Mandatory

A landlord’s insurance policy only keeps their stuff safe while you will be left empty-handed. As the years go by, landlords are making it a prerequisite for their tenants to have renter’s insurance. If your landlord doesn’t need you to have renter’s insurance now, you are bound to move to an apartment where the landlord there will require it. You’re better off getting your hands on a renter’s insurance policy now while you’re sailing smooth instead of rushing to get one later when you’re trying to move into a new apartment.


Liability Coverage is Included

Should a guest hurt themselves in your apartment, you will released of liability for their injury.  The best part is your policy will cover all court costs and legal fees up to your policy’s limit.


Covered Even While Away

Whether your personal belongings are kept in your car or your apartment, you will covered against theft. Additionally, if you are out of town, your items in your car are still insured. It is vital to know the entirety of what your policy covers, but it’s standard for renter’s insurance to cover your stuff while you’re away.


Destruction by Nature

In the event lightning or a tornado damages your apartment to where you aren’t able to live in it, your renter’s insurance will take care of your such temporary housing and grocery bills. Speak with your insurance agent about the details of your insurance policy, but you won’t be stuck without somewhere to sleep and food to eat should your apartment end up uninhabitable.



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About The Marling

The Marling Apartments rests on the edge of Downtown Madison, WI, and offers a superb location near the State Capitol, within walking distance of Willy Street, Schenk-Atwood, and Marquette neighborhoods.

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