No matter how long you’ve been staying at Westmount at London Park (or any apartment for that matter), you may already know that your landlord has the building insured. Because of this comforting fact, you might think that insuring your valuables isn’t worth the money.
But you should know that your landlord’s insurance policy won’t cover your personal belongings and liabilities.
So when your stuff gets ruined from calamities and other unforeseen events, you’ll need to have renter’s insurance to cover the losses.
Besides protecting your valuables, there are other situations where a renter’s insurance can save you from financial devastation. Read on and find out more about why you should get one as soon as possible.
1. Protect Your Precious Belongings Anywhere, Anytime
Imagine you’re on a cruise around the Caribbeans, with the ocean breeze caressing your skin and the tropical sunshine melting your stress away. As you enjoy the sun and sand, your landlord calls you about a recent break-in.
Then, you hop on a plane right away and head straight to your apartment. Your cash, laptop, and smart TV, among many others, are all gone in the wind.
Sure, you can file a police report and pray that the thief gets caught. But what if you can’t afford to replace the stolen things immediately?
Even when you’re far away from home, a renter’s insurance covers your belongings, from your clothes and furniture to expensive electronics.
2. Cover Any Damages
Apart from theft, there are other kinds of property losses that renter’s insurance can cover. They can be caused by fire, tornadoes, hurricanes, lightning, hailstorms, water damage from broken pipes or malfunctioning fire sprinklers, and other disasters.
When the structure gets damaged by natural disasters, your landlord’s insurance policy should shoulder any repairs. But chances are, it won’t cover your damaged personal belongings–unless you have renter’s insurance.
Some renter’s insurance policies can even shoulder the costs of repairs for any unintentional damages you caused.
For example, you forgot to turn off the tap, and water overflowed from your bathtub. Your insurance can cover the costs of restoring your water-damaged furniture.
3. Protect Your Guests
If you own a pet, you might think that it won’t “bite the hand that feeds it.” But you can’t always tell how it’ll act toward other people.
So if your furry flatmate bites your friend, you’ll have to cover their hospital bills, on top of your lawyer’s fees when they sue you.
The same goes for other accidents in your home, like trips and falls or anything that you’re held accountable for.
When you have renter’s insurance, you can protect yourself from financially devastating accidents. In other words, it can cover liability costs, from medical care for injuries to legal expenses.
4. Have a Temporary Home Whenever You Need to
In certain situations, you may have to leave home and stay somewhere else in the meantime. This can happen whenever your apartment becomes uninhabitable and needs to be repaired.
Now, what if this unfortunate event happens to you? With renter’s insurance, there’s no need to worry.
A renter’s insurance policy typically covers additional living expenses. So if, for instance, you’re paying $700 for your monthly rent, your insurance will cover any living expenses beyond that amount. That means you don’t have to get in a sweat about hotels and takeout orders.
5. Enjoy Wide Coverage for Just a Few Bucks
As with any investment, choosing whether to be insured or not all boils down to your budget. But you should know that renter’s insurance is one of the most affordable policies out there.
For a nominal monthly fee, you can provide all of your belongings and more with protection. So think of how much you’ll pay for everything during emergencies and compare that with your possible annual premium. Then, decide if renter’s insurance is worth your hard-earned cash–the answer is no doubt a 100% yes.
Westmount at London Park in Houston, TX