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Renters Insurance Tips for New Graduates

Why You Need Renter’s Insurance 

In the next month, hundreds of thousands of university graduates will leave behind their books and dorm rooms, moving on to the brand new world of jobs and apartments. If you are one of these new grads who is renting an apartment for the first time, then it’s time to think about renter's insurance. While you may have thought that only homeowner's need insurance, think again. There is no protection for the latest Macbook or that beautiful 30-inch flat screen if you were to be robbed or there was an accidental fire in your house. You could be out thousands of dollars for new furniture, new appliances, or any other valuables that you’d have to replace. Your landlord’s insurance does not cover your personal property, it only includes the building.

In the next month, hundreds of thousands of university graduates will leave behind their books and dorm rooms, moving on to the brand new world of jobs and apartments. If you are one of these new grads who is renting an apartment for the first time, then it’s time to think about renter's insurance. While you may have thought that only homeowner's need insurance, think again. There is no protection for the latest Macbook or that beautiful 30-inch flat screen if you were to be robbed or there was an accidental fire in your house. You could be out thousands of dollars for new furniture, new appliances, or any other valuables that you’d have to replace. Your landlord’s insurance does not cover your personal property, it only includes the building.

What Does Renter’s Insurance Cover? A standard renter’s insurance policy will include three main types of coverage:

  1. Personal property: this includes any of your possessions such as electronics, furniture, clothing,, bedding, and kitchen items. To make sure that you get reimbursed for everything, take inventory of each item in your home and document with receipts or pictures.

  2. Liability protection: this type of insurance will be helpful if anyone is ever injured at your home and sues you for medical bills and other expenses related to the injury. Liability protection will cover legal defense and any settlement or award that the injured party wins.

  3. Additional living expenses: this will cover hotel bills and eating costs if your home becomes uninhabitable from a fire or water damage. Be sure to check your policy to see your daily limit and how long coverage will last.

Still Think It’s Not Worth It? Renter’s insurance is typically only $10-20 per month! You may even be able to get it lower if you bundle with other types of insurance. If you can’t afford to replace your property or pay for alternate housing should something happen, then you need to seriously consider getting a renter’s insurance policy. Our Glendale insurance agents can help you out if you want to discuss your situation and find out how to get the best deal on renter’s insurance! Call us at (888)-840-4020 or fill out an online form to contact us via email.

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