Renters often think they don’t need insurance because they don’t own the property they live in. However, the truth is far from that, and just because you’re renting doesn’t mean you don’t need to get insurance for your place. Renter’s insurance protects you against losing your possessions and provides coverage if a guest is injured while visiting your rental property.
We usually see a rise in similar incidents during the holiday season when more and more people travel and visit one another for the holidays. During the holiday season, the likelihood of specific scenarios increases due to an increased risk of fire or theft.
Here are the four excellent reasons to obtain renters’ insurance ahead of the upcoming holiday season.
1. Coverage For Accidents
If someone is injured during a holiday gathering at your place, you might be in for some substantial medical expenses if you don’t have this type of coverage. A renters’ policy covers you if one of your guests trips and falls at your apartment or home.
2. Coverage For Theft
While having packages intended as holiday gifts delivered to your location might be convenient, it isn’t always safe. Thieves often use this time of year to steal packages simply because of the increased number of deliveries. It would help if you had renters’ insurance to cover your losses, and some insurance policies might even cover theft from the insured person’s vehicle.
3. Coverage For Fire Damage
From candles to holiday lighting, your home has an increased risk of undergoing a fire during the holidays. If you don’t have renters’ insurance, you aren’t protected against this type of loss. In addition to setting up your holiday displays carefully and burning candles safely, you might consider getting this type of insurance for an added layer of protection.
4. Coverage for Legal Liability
Slips and falls are the main reasons for traumatic brain injuries. While personal injury costs are typically covered by health insurance, the liability for injuries sustained on your property can only be covered by renters insurance. It’s particularly crucial to guarantee the safety of your guests during the winter months when snow and ice tracked inside can make the floors slippery and where merrymaking can lead to a few too many drinks.
While you should obtain renter’s insurance to protect your rental property throughout the year, the holiday season is an even more needed time to do so. If you don’t already have a policy, consider getting one today before the holiday season gets in full swing.
Marian Sahakyan is a content writer and a journalism graduate from California State University, Long Beach with a background in marketing as well as UI and UX design. Marian’s previous writing and reporting has been featured in several community newspapers throughout Southern California.