Shield Insurance Agency Blog | Renter’s Insurance | Start A Quote Today!
At Shield Insurance Agency in Michigan, we hear the question, “Do I need renter’s insurance?” often. In most cases, the answer is yes, but it’s important to understand the details. Answering these questions can help you determine if you need renter’s insurance.
First, let’s talk about the different types of rental insurance. The most common type is apartment insurance, which covers your personal belongings in case of theft, fire, or other damage. This type of insurance also includes renters liability insurance, which protects you if someone is injured in your apartment and sues you for damages. Another type of rental insurance is loss of use coverage, which pays for temporary housing if your apartment becomes uninhabitable due to a covered event.
Does Your Landlord Require Renter’s Insurance?
Some landlords require their tenants to have renter’s insurance. This provides protection for you, as well as potential liability protection for the landlord.
If your landlord doesn’t require a renter’s policy as part of your rental agreement, it’s still a good idea.
Can You Afford to Replace Your Belongings?
You may think that you don’t have any valuables. However, even inexpensive items can add up quickly. Consider your furniture, clothing, and any important items like jewelry or electronics.
What would happen if your personal property was damaged? Do you have the financial resources to replace your items? If you can’t afford to repurchase these items, a renter’s policy is important.
Can You Afford a Hotel and Living Expenses?
Most renter’s policies will cover accommodations and living expenses if you have to leave your home due to a covered event. If you are concerned that you don’t have the emergency funds to cover this situation, a renter’s policy can provide needed peace of mind.
Do You Need Liability Protection with Renter’s Insurance
If someone is injured in your home or their property is damaged, you can be liable for the damages. This can put a strain on you financially and even jeopardize your future.
A renter’s policy provides coverage if you have you are held responsible for a liability claim.
Reach Out To Us
If you need renter’s insurance in Michigan, contact Shield Insurance Agency. We offer renter’s insurance policies, as well as homeowners, auto insurance, and more to meet all your insurance needs.
