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Home > Property Insurance Coverage > Rental Insurance > Why Is Rental Insurance Necessary?
Why Is Rental Insurance Necessary?
Rental insurance is available for anyone who rents a house or an apartment. Even when you live in a place that is not your property, you have to make sure it is protected and insured. If something like a ceiling damage happens in the house you rent, the landlord is responsible for it, and he/she must fix it as soon as possible because you are paying for living in a nice place; but, have you ever thought what would happen if your personal stuff is damaged, or if somebody gets hurt inside the rented property?
To prevent things like those exist rental insurance, which is a kind of coverage for those who live in a place they do not own. However, there are some myths that people have about this insurance. For example, some people say that renters insurance is very expensive. Nevertheless, renters insurance varies according to the possessions you need to protect (TV, radios, wash machines and others). Remember that you must not get things or responsibilities that you cannot afford.
One of the main reasons why renters do not get a rental insurance is because they think that the insurance of the property owner cover them, but this is not true. The property owner insurance only covers the building where you live but not your own possessions. Another “myth” is that renters think that liability insurance is not necessary, but if somebody hurts in the place you rent and you are responsible for the accident, the rental insurance may cover the costs.
Finally, there are some people who think that they do not need this insurance because they do not own many things, but remember that the things you already have had cost you a lot, and that is why it is really important protect them.
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