On a regular basis people are obtaining coverage for their vehicles. People are required to put collision and comprehensive if they have a loan for their vehicle, others choose to protect their investment even when not required. Meanwhile so many people are refusing to protect their belongings. Contents, also known as tenants insurance can help!
Regularly we hear, "I don't need contents insurance,
I'm not worried about something happening."
The unfortunate fact is - losses happen all the time. Fire, smoke damage, thefts are a few of the common claims that happen to renters. You cannot always control claims from happening especially when you live in a rented home or apartment.
We also hear, "I don't need contents insurance I don't have many belongings." A lot of renters do not understand the worth of their contents. The truth is most people only think about the big things - television, couch, chair & computer. There are so many items to consider. A broker should remind you of the things you don't think of. Books, decorations, curtains, socks, belts, towels, shoes, movies and more. Once you start adding up everything, ask yourself if you can afford to replace it all. If the answer is no, you should get tenants insurance.
"I don't need coverage, the building owner has insurance." The coverage that an owner has on the building is not going to cover the tenant's personal contents. The landlord or owner would carry coverage for the building itself and the contents they own inside such as some appliances. In addition, you could be held responsible if a faulty device were to cause a fire to the unit you reside or other units in the building. Most tenants packages include liability insurance which would protect you front being held financially responsible for an unintentional act or damage.
Obtaining contents/tenants insurance can also help when getting insurance for your first home purchase. Many insurance companies require previous insurance history.
It is important to check your policy for what is covered, excluded and what if any, limits apply.
What to know more? Call us for your quote today!