If you think that having renters insurance is useless and a waste of money, it’s wrong! Like most of the people who may not have a private home or apartment to live because of the cost of expensive and decided to rent their homes, they still have to be careful keeping the property and personal belongings. Without you knowing what you do not want to happen to you like a case of theft, fire accident, flood, and accident caused by someone else. These events will certainly be well on your finances and the cost of having to replace all the losses suffered. You have to spend more money to buy the missing items and damaged due to the incident. Certainly not cheap, but if you spend the money counted you can use for other purposes that you have planned. Coupled with the price of goods more expensive, while the lost goods would be more expensive than when you bought some time ago. It’s a great disaster will befall you if you still decide not to get it.
What is it? It is insurance that intended for tenants and property and will bear any loss of personal belongings lost because stolen, fires, floods, and other unexpected events. The items covered such as clothing, furniture, electronics, jewelry, and much more. How important?
- The insurance will provide reimbursement and protection of private property, not just property owners like most other insurance. It’s very beneficial for you especially who are concerned about items in the house.
- Proof of renters insurances is very necessary to convince landowners and homeowners. In other words they will give approval rental homes and signed rental contract provided that the tenant must have proof.
There are two choices of renters insurance that suits your needs:
- Type of insurance reimbursement. This type of insurance is a little more expensive because it can provide reimbursement for any items lost, destroyed by flooding, damaged by fire, and accidents caused by another person. The insurance company will replace items that have been registered and are done adjusting the replacement value of the goods on the market today.
- Types of cash value insurance. This type of insurance is less expensive than the replacement cost of insurance types. Why? Because the company will shrink the value of the goods listed in the insurance list. These goods are cheaper when compared with buying used now. That is because the rate is lower at that time than they are today. However, the value of the item is not suitable if used to purchase the same goods today. That is the reason why the value of the item shall be depreciated. You will get a cash reimbursement is less than the value of goods in the market today, even far from enough.
Buy renters insurances provide more services than just the replacement of goods and cash replacement. Damage to personal items will be replaced, but what happens if you need a cost of living and the cost of hotel stays when there is a fire? While the house is repaired and you have to wait until the house is ready to be inhabited again, you need a place to shelter from heat and rain. Staying with a friend and neighbor is certainly not a good choice especially your own family. It’s not convenient if you have to share a room and the noise of the children that interfere with a friend or neighbor. You need a hotel as a haven while more privacy. Do not to worry because they will give you the cost to stay while you’re waiting for home repairs completed.