If you rent an apartment, a condominium, or a house in the Boynton Beach area, you might be wondering whether it’s a good idea to purchase renter’s insurance.
It is a definitely a good idea! Renter’s insurance protects your personal property in case of damage. Many renters have a common misconception: that their landlord’s insurance protects their rental. Your landlord’s insurance will protect his property — the building itself, for example, and anything the landlord provided within it, such as air conditioning or a refrigerator.
What Does Renter’s Insurance Cover?
But the renter’s personal property, like furniture, televisions, computers, stereo or other equipment, is not covered.
Many renters may feel that if they are careful, their property won’t be damaged, and they won’t need insurance.
Well, no one should be without insurance simply because they are careful. You likely have car insurance, whether you are a safe driver or not. You can be very careful with your belongings, but acts of nature or other people can pose a danger.
What if your upstairs neighbor leaves the water in the bathtub running when he leaves for work? Your apartment could flood, and all your belongings be lost. What if your next door neighbor falls asleep with a lit cigarette? It’s frightening to think of, but all your personal possessions might be lost in a fire. What if high winds carry away the roof, or drenching rains cause a flood? These are all events that can cause damage from the elements, inside.
Renter’s Insurance is Affordable
Finally, many renters feel that the cost of renter’s insurance is too much to pay for what they have (although renter’s insurance coverage start at .41 cents per day!).
It’s prudent to think again on that score. Renter’s insurance premiums are generally very reasonable.
A renter’s insurance policy will reimburse you for personal property you’ve lost due to accidents or natural disasters. Without it, you have to replace items. It’s a good idea to add up the potential replacement cost of all your possessions. Take an inventory of your clothes, furniture, computers, personal entertainment equipment, kitchen equipment, and more. Total up what you would have to pay to replace it. The total may surprise you. Over the years, many of us have accumulated enough stuff that it’s total replacement cost is hefty.
If you would to like to discuss your options for renter’s insurance please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:30 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!
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Rob Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953.