Moving to a new rental?  Whether an apartment, townhome, or rental house, renters insurance is a wise investment. Not sure what renters insurance is or why you need it? Read on to find out the benefits of purchasing renters insurance and the risk you are taking by choosing not to. Need help with your move? Hire Greensboro movers, Steele and Vaughan for reliable moving services.

There are Many Benefits to Paying for Renters Insurance

1. Protect your belongings in case of a disaster in your building. If there was a fire or some other disaster in your building that inflicted damage to your possessions, renters insurance will give you the funds necessary to replace them.
2. Protect your belongings in case of a disaster in a nearby building. If there are other buildings close by, a fire or other disaster near you could damage your belongings as well. Renters insurance covers damage in this case as well.
3. Protect yourself financially for a disaster that is your fault. In case you started a fire or flooded your apartment building, renters insurance covers the damages you may have caused to other tenants’ belongings as well as your own, up to your policy amount.
4. Protect yourself from accident liability. If a guest gets seriously injured in your home, leading to medical expenses or a lawsuit, your renters insurance covers that too and provides compensation.
5. Renters insurance is affordable. You can purchase renters insurance that will cover your belongings up to $10,000 in personal property coverage and $100,000 in liability for around $120 a year. You may be eligible for lower rates for the presence of certain safety features, such as a fire suppression or security system.

Not Having Renters Insurance is Risky

When you opt out of purchasing renters insurance, you are putting yourself in financial risk. In case something unfortunate does occur, such as a fire or some other type of disaster, you would have no recourse for replacing your own damaged items. If you caused damage to your building or other tenants’ possessions, you would be liable with no insurance to help with the cost. Some landlords will require you to purchase renters insurance for these reasons, especially to protect their building. The landlord’s policy will not cover your possessions either. It covers structural damage, but not clothes, shoes, books, electronics, and other personal items.

Greensboro Movers, Steele and Vaughn, Recommend Purchasing Renters Insurance

It is important to understand that your mover’s insurance and renters insurance are not the same. When you hire Greensboro movers to help you relocate, you can purchase moving insurance to cover your possessions during the move. Renters insurance protects your belongings after you move while you are renting and for as long as you purchase coverage. The amount of coverage you can get for such a reasonable price makes getting renters insurance a no-brainer. Trust your possessions to Steele and Vaughn during your move and protect them afterward with renters insurance.