Friday, December 15, 2017

Don’t Underestimate Renters’ Insurance!

As with all insurance, renters’ insurance provides extra protection; this time, for your own home and belongings. Some tenants and landlords might think renters’ insurance is overrated. However, it might save you from the most catastrophic events. We never know when an accident may occur or how the weather can turn against us, so insurance can be the perfect lifeguard for our homes. 

Don’t underestimate it! They can help you save money if something happens to your home.  They are not only favorable for tenants, but for landlords too. Here are some benefits of renters’ insurance.

Benefits for Landlords

1)     Protection against incidents. Even if you have the most responsible and careful tenant and you trust him/her with your life, there’s always the possibility of your home getting damaged without being their fault. Your house could catch fire, for example, and as a landlord it would be your responsibility to pay for those damages if there’s no renters’ insurance.

2)     Healthy relationship with your tenants. If anything happens to your house, it is most likely to keep a peaceful relationship with your tenants if there’s a third party handling the case. You will not only avoid a fight, but you will also save time and energy.

3)     Not getting involved in your tenant’s arguments. In the case your tenant is involved in an argument with some other neighbor –for example, due to property damage– then you won’t have to take the responsibility for it. Renters’ insurance will take care of it, even if there’s any monetary argument over it. This means, one less headache a day!

Benefits for Tenants

1)     Home protection against natural disasters. Tornados, wildfire, and hail are real in the USA. If your home happens to get damaged by a natural disaster, sometimes landlords don’t cover that loss. Avoid losing all your belongings and property with renters’ insurance. You spend money on insurance now, but it will be completely worth it in the long run if anything happens to your home. (Remember, not all natural disasters are covered, for some of them you might have to get extra coverage. Ask about it before paying.)

2)     Home protection against theft. Burglary can happen anywhere and anytime, even if you live in what looks like a very safe neighborhood. There’s always a risk of someone breaking into your home and stealing your most valuable belongings. Renters’ insurance helps you protect most belongings if stolen.

3)     Home protection against injuries. We all have accidents, and renters’ insurance is a good way of keeping your home safe from them. If a guest or even yourself damage your home, a landlord will rarely (not to say never) pay for it. Avoid wasting more money than you should with renters’ insurance. They will take care of the expenses to repair or replace what has been unintentionally damaged.

Photo credit:

No comments:

Post a Comment

Copyright 2012 Gables Riches. All rights reserved. 1800 SW 1st Avenue. Suite 504. Miami, FL. 33129. Tel (786) 344-4669. Fax (786) 533-3921