Renter’s Insurance – What you need to know in Ventura County

Renter’s Insurance

We’ve all heard of it…but not very many renters carry it compared to the large majority of home owner’s that carry insurance on their property.  Most people, renters, and homeowners keep the bulk of their belongings in their home.  That list includes everything from clothes and memorabilia, to small appliances and cars.  It goes without saying that the population at large goes to great lengths to keep their precious items safe.  Just consider how many people you know that have a car or home alarms, safes, locked file cabinets and keep their porches well-lit at night.  So with all of this added caution and security, it is surprising that so many tenants don’t add renter’s insurance to their current policy.

Top 5 Reasons Renter’s Insurance is a Good Idea

  1. Inexpensive- For a low cost you could have renter’s insurance for an entire year! Check with your local insurance agent for prices and what is covered but most states offer yearly coverage for $125-300.  That’s a deal considering the added peace of mind.
  2. Covers Loss- Once you start adding up replacement costs for all of the items you brought into that vacant home you’re renting you may be surprised to see the dollar signs add up.  Look around your home: television, clothing, furniture, computers, cameras, phones…it all cost you something and if you want to be sure that you won’t have to re-purchase any of these items with money out of your pocket, renter’s insurance is for you.
  3. Liability- If you like to entertain, host parties, babysit, or just have a big family, renter’s insurance may help protect you if someone gets injured at your home.  Sure, the landlord has insurance to protect their property and structure…but none of that protects you or your items.
  4. Required by Landlord- Some landlords actually require their tenants to carry renter’s insurance policies.  Although in the short-term this may seem like they are being petty and inconvenient, this added protection will be a welcomed safeguard in the event of a break- in or disaster.
  5. Home or Away- Regardless of whether tenants are usually home or traveling your belongings will be covered against theft or loss. 

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