Do you have renters insurance?

We have written before about this important YOU MOST HAVE insurance.

Many times we have brought this theme in CrossOver, the Rumbo-sponsored radio show and still we see with dismay how many renters lose all their personal belongings due to theft, vandalism, fire and smoke without coverage to replace them. You probably own more than you think!

The average renter owns $30,000 worth of possessions, from linens and DVDs to furniture, jewelry and electronics. And you should be aware that your landlords’ property insurance usually covers only the building structure you live in, NOT your personal belongings.

Renters insurance is an insurance policy which provides most of the benefits of homeowners’ insurance. The owner of the building is responsible for insuring it, but bears no responsibility for the tenant’s belongings. Renters insurance can help protect you even when a theft or loss occurs away from home – such as in a hotel.

Our advice is to check with the insurance company with which you have your vehicle insured. You will be amazed how inexpensive renters insurance is. Most places charge between $70.00 to $100.00 a year. Some people after experiencing a fire or theft, and going through the agony of the aftermath – relocating, furnishing anew, etc. just to find out that they still have to pay their creditors for any equipment they took on credit and no longer own.

Don’t ever think “that will never happen to me”. Believe it or not, to some people it has happened more than once.

Don’t be one of them.