Whether you are new to renting or are an old veteran of the practice, you may be confused about why renter’s insurance exists and what you need to do to insure against in a rental home. Even though Camarillo, California has low crime rates and not much in the way of extreme weather, it is still possible for you to suffer some damage or theft in your rental house or apartment any day of the week and any season of the year. Renter’s insurance may be the only thing standing between you and financial disaster, so it pays to be prepared as well as informed.
You Might Be Required to Have It
Did you read your lease agreement carefully before you signed it? If not, you may want to take another look, as some landlords in the Camarillo area require their tenants to have renter’s insurance. This is a common requirement because renter’s insurance often covers things that the landlord could end up being held liable for. However, renter’s insurance is not just designed to protect the property’s owner. Many landlords genuinely care about their tenants’ safety, and with years of experience in the rental market, they know that this kind of protection is a good idea.
You Do Not Want to Need It and Not Have It
Renter’s insurance is worst-case-scenario protection, so you may never actually end up benefitting from it directly, but it is the sort of thing you could end up deeply regretting passing over. Think about it this way: let us say that you pay a total of $300 for renter’s insurance for the year. The policy will cover up to $5000 in damaged or stolen property, so if your computer, phone, and TV get stolen, that totals to well over the $300 you spent on the insurance that will most likely cover the cost of replacing those items.
Coverage Scope May Surprise You
You may have heard about people who end up being liable when a robber slips and falls on wet floor in their kitchen. In the unlikely event that something like that happens, renter’s insurance might actually cover it. Renter’s insurance can also cover things like stolen goods and things that get damaged in fires and floods.
You make sure your door is locked every time you leave your house or apartment, right? Why is that? Even though you know Camarillo is pretty safe, you do not want to make obvious mistakes that could lead to robbery and other crime in your place. As you can see, renter’s insurance adds an extra layer of protection and if you are unfortunate enough to have some of your property stolen from your rental home, renter’s insurance is designed to help you replace your stuff. Even if police manage to find the people who broke into your home, that might not result in you getting all your things back in one piece.
You Might Be Able to Save On Multiple Insurance Costs
If you are new to California or are just getting a completely fresh start in Camarillo, you might need to purchase some new insurance policies anyway, be it car or life insurance. In some cases, you may be able to make a deal with your insurance broker to get your renter’s insurance bundled in with your car insurance, allowing you to save on both and make convenient bulk payments.
Image Credit(s): Image(s) by Fort Meade. Presented from Flickr.com under the Creative Commons License. For licensing info visit CreativeCommons.org. In no way should the information presented herein be considered endorsed by the artist(s), Flickr, or CreativeCommons.org.
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