Renter’s insurance

Top reasons to purchase a renter’s insurance policy

You might not think you need renter’s insurance, but there are many reasons to buy renter’s insurance.

Sharp Insurance & Financial Services of Ashland, KY wants you to have the insurance you need, so we offer this list of real reasons to acquire renter’s insurance.

1. Your landlord has property insurance, but it only covers their losses to the apartment building or home and their liability. Your personal property and liability are not covered. Only 37 percent of renters obtain renter’s insurance, says the Insurance Information Institute.

2. It does not cost much. While some insurance policies cost a lot, renter’s insurance does not.

3. Your landlord may require the policy as a part of your rent.

4. It protects you from the loss of your personal property. Imagine if you had to replace every stereo component and your television all at once because they were stolen.

5. It protects your property from losses from everything from damage caused by aircraft to explosion and fire. If a volcano erupts, your things are covered. If a tornado blows through, they are covered, too. Only floods and earthquakes require a separate policy.

6. It provides you with liability coverage. If someone falls inside your apartment and gets hurt, your landlord’s property insurance does not cover it, but your renter’s insurance does.

7. Renter’s insurance covers your belongings when you travel, too. You are covered from loss or theft and damage.

8. You could obtain a policy that also provides additional living expenses, so if your home gets damaged, too, you can pay for a place to stay.

Call Sharp Insurance & Financial Services of Ashland, KY to learn more and find the policy for you.