Do I Need Renter’s Insurance?

Millions of college students are moving back into apartments this month. Moving into your own place is exciting, I get it. Unfortunately, some basic adult responsibilities move with you. The good news is, renter’s insurance can make you feel all grown-up without breaking your social budget.

Some landlords require renter’s insurance, but most don’t. Whether you are required or not, renter’s insurance will help you, your family and your landlord sleep better at night. Let’s take a look at the coverages in a typical renter’s policy:

  1. Personal Property aka your stuff. Take a moment to estimate the value of your clothes, furniture, and electronics. Typically, that number will come in around $25,000. Do you really want to replace all your stuff because the moron down the hall grills on his balcony? Don’t laugh, our area had several fires in the past year or two caused by just that. Also, don’t be that dude.
  2. Additional Living Expense covers your rent if you have to find another place because the moron down the hall set the building on fire. Your landlord isn’t responsible for that.
  3. Liability. Accidents happen, and you are responsible if they happen at your place. Liability covers the small stuff (Dude, you should go to the ER to get the glass out of your foot) and the big stuff (Dear Tenant, our law firm has been retained to pursue damages against you).
  4. Optional Coverages like valuable jewelry, sports equipment, or water or sewer backup (Yuck, do you really want to clean that yourself?)

In most cases, all this coverage will cost about $20 per month. That’s probably less than your monthly Starbucks or Insomnia Cookies spend! Step up, your family will be so proud!

Jeff Keller-Junction City Copeland Insurance Agency–785-762-2242