As a renter, you may wonder why you need insurance. Your landlord or management company is responsible for the building you live in, and they have to have insurance, right? Well, they probably do have insurance, but it isn’t going to help you. It covers the building, not your personal property. At Anthony Lancaster Insurance Inc in Memphis, TN, we are your local independent agency, and we are dedicated to providing our customers with the insurance they need at the best possible price.
Since your landlord’s insurance isn’t going to protect your personal possessions are you prepared to lose everything in your rental? You may not think it is much but imagine having to replace not only your furniture but all your kitchen implements, your clothes, and jewelry as well as your electronics. It could be thousands of dollars most people would find that a hardship.
Renters insurance also includes liability coverage. If somebody is injured while visiting you or by your pet, you could be responsible for medical expenses, and if they decide to sue, a lot more. Your renters’ insurance would help pay the judgment against you as well as legal expenses you might have,
If a covered peril hits your rental, and it gets severely damaged where would you stay? Renters insurance includes loss of use. If your rental is damaged you can stay in a hotel while the damage is calculated and if it is going to be a while until you can move back in, it will pay for a temporary rental until your place has been given the okay to be lived in again.
These are just some of the reasons that renters’ insurance is something you should be considering. If you have questions or concerns, the knowledge team at Anthony Lancaster Insurance Inc in Memphis, TN is here to offer our expertise.