Did you know that only 31% of renters in the United States have insurance? That leaves more than two thirds of Americans uninsured against burglary, fires, tornadoes and other natural disasters. Did you also know that renters are 50 percent more likely to experience theft than homeowners? Providing coverage for your personal belongings and valuables may help protect you financially in the event of break-ins or unforeseeable catastrophes.
To put this into perspective, according to the U.S. Department of Justice there were 3,613,190 incidents of theft in 2011, and “victims of burglary offenses suffered an estimated $4.6 billion in lost property… The average dollar loss per burglary offense was $2,096.”
So why aren’t more tenants investing in renter’s policies?
The number one misconception regarding renter’s insurance is that it is expensive. The Independent Insurance Agents and Brokers of America reports that the average cost of renter’s insurance is a mere $12 per month for $30,000 worth of property coverage and $100,000 of liability coverage.
Your renter’s policy can include:
-Personal property protection: furniture, electronics, clothes or other personal items
-Personal liability: in the event that someone is injured in your rental home and pursues legal action
-Reimbursed living expenses: Assists with paying for lodging if your home becomes temporarily uninhabitable
-Off-premises protection for your belongings
-Damage to your rental caused by a covered loss
With a wide range of packages available, you can choose which plan works for you personally and financially.
If you have any questions or concerns, feel free to contact us at 770-557-1744 and let our experts advise you on which coverage best fits your lifestyle.