Most homeowners carry home insurance covering their abodes. However, many renters don't have renter insurance, exposing them to many threats. Renters should not take for granted that they are covered under a landlord's property insurance. Instead, working with insurance agents is crucial to ensure you are adequately insured.
Let's take a look at why rental insurance is important. If you have further questions or concerns, please contact Ryan Blankenship Insurance Brokerage. We've helped countless clients in Missouri secure renter's insurance.
In the United States, a break-in occurs about every 30 seconds. In total, more than 2 million break-ins occur each year, and criminals will often steal stuff. Typically, homeowners are insured against such events by their homeowner's insurance. Renters, however, may not be protected and could stand to lose a lot.
It's crucial to read the fine print of every insurance plan. However, many renters' insurance policies will cover theft resulting from criminal activities, such as someone breaking into a rental property.
Depending on the policy, rental insurance may protect against many other things. Each year, over 350,000 home fires break out nationwide. It's possible to secure rental insurance covering losses from such fires.
Lawsuits are another severe risk. Many renters invite friends and family over. Someone may sometimes suffer a slip and fall or another accident. The injured party might sue the renter. Home insurance often covers medical bills and lawsuits stemming from these incidents. Without renter's insurance, however, renters may be on their own.
What's covered depends on the specific rental insurance plan folks take out. However, some other things commonly covered include:
Of course, whether a specific event is covered will depend on the insurance plan. If you or your loved ones are renting in Missouri, speaking with an insurance agent is crucial. We can help you understand what is and is not covered. Call Ryan Blankenship Insurance Brokerage immediately to discuss the renter's insurance options.
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