|
If you lost all your possessions in an apartment fire today, could you afford to go out and replace them? Probably not.
Renters insurance is a smart investment not only so you are able to replace furnishings, personal possession, clothing, etc., but also for the other coverage it affords you. Most importantly, liability coverage; which can be a financial lifesaver should you be held liable for injury to another person or their property. Some renters policies will also pay for temporary housing if a fire or other covered loss has required you to move out while repairs are being made. Replacement cost coverage is also available with most renters policies for your personal belongings for only a few extra dollars per month. Replacement cost coverage means there is no depreciation on items destroyed or lost and replacement is at todays cost for like items.
If you are concerned about cost, a larger deductible can save you money. Just be certain that the deductible is within your means when and if you suffer a loss.
|
