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6 Benefits of Having Renters’ Insurance

When renters have renters’ insurance, they protect themselves and their possessions in many different ways.

If you rent a property and want peace of mind knowing that your belongings are protected, consider investing in renters’ insurance. This type of insurance is a valuable resource for those renting to have. But many renters do not know just how valuable it is. So, today we’re spotlighting six significant benefits of having insurance as a renter.

Continue reading below to learn more.

6 Advantages of Having Renters’ Insurance

The cost of renters’ insurance isn’t much more than an evening out with your family or friends — and it’s just as rewarding and essential. Here is a handful of benefits that come with investing in this type of insurance:

  1. Protect Your Belongings — When you think about the value of every item you own, it probably adds up. If someone were to break into your property and steal your most valuable possessions, would you be able to afford to replace them all? Replacing everything you own would cost you a pretty penny. Renters who have insurance are protected financially if their items are stolen, damaged, or destroyed in a fire, or even in the event of storm damage. Keep a running home inventory spreadsheet that helps you keep track of all of your belongings will come in handy if anything unexpected happens.
  2. On-The-Go Coverage — Another major perk of this insurance is that it follows you wherever you go. For example, if you lock up your bike so you can run into a store and when you get back it’s missing, don’t get too worked up about it. Your insurance can help cover replacement costs. Whether you’re away for work, on vacation, or just aren’t home, your insurance has you covered.
  3. Liability Protection — If one of your guests gets injured in your home, your renters’ insurance will help pay for their medical bills. It also helps cover claims and lawsuits for damage and injuries you, your children, or your pets unintentionally caused.
  4. Loss of Use — Suppose the tenant that lives above you forgets to turn off the sink faucet and it overflows, leaks through your roof, and damages the ceiling, carpet, and all of your belongings. Could you afford a hotel or other housing while your apartment gets repaired? If something happens to the property you’re renting where you need to find another temporary living situation and your landlord won’t pay for it, this insurance can help pay for a temporary relocation.
  5. Coverage for Identity Theft — Many policies can add identity theft protection for a reasonable cost. This additional coverage will save you money, time, and a major headache if your identity is ever stolen. 
  6. Peace of Mind — Protecting yourself and your belongings with this insurance gives renters much-needed peace of mind. When you invest in insurance, you’ll rest easy knowing that you are proactively protecting all of your items.

Need Renters’ Insurance? Contact Bear River Mutual Insurance 
If you are renting and want renters’ insurance, contact the knowledgeable team at Bear River Mutual Insurance. Our team of professionals will get you the best, affordable policy within your budget, giving you the peace of mind you deserve. We are dedicated to finding the right balance of security and value for you and your loved ones. We serve those in Salt Lake, Provo Orem, and the cities in between. Contact us for your free quote today.

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