For many people renting a home is a preferred option to buying one. Maybe you just moved to an area or are starting a new job and need to see how the next year shapes up. Either way, renting can provide security without locking you into a mortgage or requiring you to sell a home should you decide to move. You should take steps to protect your belongings though. Do you need renters insurance?
Protecting Your Belongings
When you move into a rental house you bring with you all of your worldly belongings. Furniture, appliances, clothes, and more, these items may not seem valuable but if you had to replace them all you could be looking at thousands and thousands of dollars. Should a fire break out or the apartment flood then you could be in dire financial straights. However, with a rental policy you could receive coverage for these items.
Doesn’t The Landlord’s Policy Protect My Stuff?
Yes, your landlord does carry an insurance policy on the house or building you occupy. However, this only protects the landlord’s investment, which is the building. Your personal belongings are not protected and you will need to cover the cost of replacing them. Unless of course you contact your Carrollton, TX insurance agency to discuss your coverage options and choose a policy to protect the items in your possession.
What If I’m Renting My House?
Let’s look at the other side of the coin for a moment. What if you are the landlord? If you own a home and want to rent it out, for example maybe you’re moving or upgrading to a new home, or perhaps you inherited a house that you don’t know what to do with, you need coverage. The current homeowner policy is void once you, the homeowner, move out. As a result, you will need a new policy on the house. You can speak with one of our insurance agents. We can look at your budget and the recommended coverage to create a policy tailored specifically to you. After all, not every tenant will take care of your property the way you would. Whether you are renting the home or you are the landlord, you need insurance.