Why all renters should have renters insurance

While homeowners are mandated by the mortgage holder of their home to have insurance, many landlords don’t require renters insurance. This leads some to believe that they are insured, which isn’t the case. About 60% of renters are uninsured. At Aussie Agencies in Knoxville, IA,  we try to make sure that our customers have all the information they need to make informed decisions about their insurance and what they should have.

Renters’ insurance offers some significant types of coverage. It protects your assets with personal liability insurance, covers your possessions with content coverage, and helps keep a roof over your head with loss of use coverage. 

Personal liability insurance

Getting sued is a reality of life in the world these days. If someone is injured while visiting your home or by a family member away from home, you are vulnerable to legal action. If you don’t have renters insurance, you will need to pay for any judgment and the legal expenses with your savings. If you don’t have enough savings, your future earnings may be attached. 

Contents

This coverage will replace the things you use every day in your life, like your clothing, furniture, electronics, and appliances. You own many more things than you realize, and it isn’t until you have lost them that you realize how much you count on them. 

Loss of use

If there was a covered hazard in your rental, even if it isn’t in your unit, it’s possible there would be too much damage for you to live there. You will need help to find a new temporary place to stay while your place is repaired. It can also help pay for some meals if you don’t have a place to cook.

Contact Aussie Agencies in Knoxville, IA for all your insurance needs. We can help you with renters insurance.