Tips to Protect Your Personal Belongings and Possessions

View this post in Português, Español

Columns, Cover

Tips to Protect Your Personal Belongings and Possessions

By Sandra Sanchez

You may think that the property owner who is renting you an apartment, condominium or house is providing insurance for your belongings, but they are not. The property owner is insuring the rental property and any personal property that they own. You need to purchase a Renters Insurance policy to obtain coverage for your personal property. In the event of a loss, you could lose all your furniture, jewelry, clothing and everything else that you own, which you have worked so hard to acquire. Imagine losing everything in a catastrophic event such as a fire or robbery and having to start over with no insurance coverage. You would be losing thousands of dollars.

Renters Insurance provides financial reimbursement to cover a tenant’s lost or damaged possessions as a result of a theft, fire and/or vandalism. It also provides liability coverage if a visitor is injured on the premises. If a person slips and falls on the property, or if your dog or cat bites them, the policy contains medical coverage to cover their injuries and, in the event that you are sued, you also have liability coverage.

This type of valuable insurance coverage is typically inexpensive and very affordable. Annual premiums start as low as $100 per year. The cost is dependent on the limit of coverage desired. This is an affordable way to give yourself a piece of mind and protect your property. Many insurance carriers will give you a discount on your automobile insurance policy if you purchase a Renters Insurance policy with the same insurance company.

Before buying Renters Insurance, you should take inventory of everything that you own. The average renter has approximately $20,000 of personal property. To ensure you are purchasing enough coverage, itemizing your belongings will give you a better idea of how much insurance you really need to purchase.

You are not required by law to carry Renters Insurance. A property owner can require that you purchase Renters Insurance in your rental agreement in the lease. Carrying and purchasing Renters Insurance protects you and your belongings. A quote proposal can be obtained from your insurance agent in a few minutes.

Article written by Sandra Sanchez of Integrity Insurance Taxes & Services, located at 41 South Street, Danbury, CT, 06810. For more information, please contact her at 203-917-3131.

Share on FacebookTweet about this on TwitterShare on Google+Pin on PinterestShare on LinkedIn
October 3, 2019

Leave a Reply

Your email address will not be published. Required fields are marked *