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Top 5 Reasons To Get Renters Insurance

Top 5 Reasons to Get Renters Insurance

Renters insurance is a unique type of home insurance that protects the personal property of someone who rents a home but does not own the dwelling itself.  Approximately 48% of residents in Santa Barbara live in a rental unit instead of owning their home, while only 37% of renters typically have Renters Insurance. With policies that are less than $20 a month, you can affordably protect your belongings and give yourself peace of mind.

Here are our top 5 reasons why you should consider getting Renters Insurance:

1. Protect yourself against theft

If you live in a rental home or apartment and are a victim of theft, your renters insurance policy will replace or repair anything that was stolen or damaged by the intruders. Renters insurance will also cover any belongings that were stolen out of your car! If you don’t have renters insurance, you would have to replace anything that was stolen with your own money, which could be a large unexpected expense.

2. Protect yourself against fire-related damage

If you live in an apartment complex you are more susceptible to accidental fire-related damage since there are more people living in close proximity. Renters insurance covers you in case of fire damage and can replace any property that is damaged by fire or smoke and can even pay for your housing costs if you are displaced for any amount of time.

3. Protect yourself from water damage

If a pipe breaks in your home or your upstairs neighbor’s bathtub ends up leaking all over your apartment, your renters insurance policy will pay to repair or replace any property that is damaged by water. Most landlords will only have insurance to fix damage to the property and don’t cover any of your belongings.

4. Protect yourself against claims of liability

If someone is injured on your property or you accidentally cause damage to one of your neighboring units in an apartment complex, renters insurance will cover you for any liability claims filed against you. Renters insurance also covers your litigation expenses and other costs that you have to pay associated with the liability claim.

5. Protect yourself during an unexpected displacement

If your house or apartment becomes uninhabitable and you are forced out during repairs or while looking for a new rental, your renters insurance helps pay for your unexpected increase in costs of living. If you temporarily need to stay in a hotel and have to go out to eat, these expenses are covered up to the limits of your policy.  Depending on where you live you might want to increase the limit on your policy so that it covers the expense of staying there.

Learn more on our Renters Insurance page or call Baxter Insurance at 805-963-4048 for a free quote today!

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