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The Truth About Why Millennial's Need Renter's Insurance

By August 28, 2017December 7th, 2018Insurance

If you’re similar to most Millennials, you rent where you live. There are many financial advantages to leasing a condo, house, or apartment, and you may believe that renters insurance is an additional expense that isn’t necessary. Although you may view renter’s insurance as a just a suggestion, it’s really a worthwhile financial tool for protecting you and your possessions.

Affordable Protection

As a Millennial, you’ve spent much of your life accumulating things that you consider valuable. Are those valuables safe and protected in your apartment or condo? It’s important to realize that everything in your place may be at risk. Here are a few benefits of considering an affordable way to protect what you own.

  • Replaces your possessions. A renters insurance policy covers your belongings and will replace or repair them in the event of burglary, fire, or other damage.
  • Provides liability protection. Many Millennials are choosing to delay having kids until later in life and are opting for pets instead. If your dog bites a guest, or someone hurts themselves in your apartment, renters insurance covers your liability.
  • Covers medical payments. A renters insurance policy offers medical coverage if a guest is injured in an accident at your place.
  • Provides additional living expenses. Coverage is provided for temporary living expenses if your apartment or condo is damaged and you need a place to stay while it is being repaired.

Renters insurance is an affordable means of protecting you, your guests, and your possessions. A reliable insurance professional from Kaplansky Insurance Agency can guide you through the options and help you select the protection you need.

Filling in the Gaps

Renters insurance can also fill in the gaps left by your other insurance policies, such as your automobile insurance. Let’s say you forget your laptop in your car after work. A thief breaks into your car and steals your computer. Most auto policies don’t protect personal items left in your car. In this example, renters insurance covers your stolen laptop. Also, bundling renters insurance with your life or auto policies can save you money.

Buying Peace of Mind

Starting your adult life is stressful enough, particularly financially. Even if you choose to rent instead of buy, it’s still important to protect your hard-earned assets. Accidents happen, and that’s why you should consider purchasing a renters insurance policy. It is an inexpensive way to provide peace of mind and know that if a fire, theft, or other damage occurs inside your place, you’re covered. It’s a good precaution against the unknown.

Want to learn more about how Renter’s Insurance can benefit you? Our professionals will guide you every step of the way to help you find the right coverage at an affordable price to meet your needs. Contact us today or simply request a quote here.