Skip to main content

10 Signs That You Need Renters insurance

woman in her home looking at laptop holding a baby

Do you rent your home? If so, it’s worth strongly considering buying renters insurance.

Not everybody who rents a home necessarily needs renters insurance. Because of this, it’s not easy for the average renter to know whether or not they need it.

Renting your home and wondering if you need renters insurance? Our guide will reveal the primary signs that renters insurance is right for you, your home, and your needs.

Your Landlord Requires It

Unlike car insurance, renters insurance is usually optional. But in some cases, you may not have much of a choice.

Some landlords may require you to take out renters insurance before you can sign the lease. As annoying as this is, it is perfectly within the landlord’s legal rights to make such a request.

Why would a landlord require you to take out renters insurance? The most basic reason is that your landlord’s insurance policy will only cover the structure of the home and the grounds it is on. Because the policy doesn’t protect the interior of your home, they may want you to get renters insurance to take up the slack.

And in some cases, the landlord’s own insurance company may require that tenants have renters insurance. In that scenario, the landlord’s hands are completely tied.

You Have Valuable Property

A renters insurance policy is a great way to protect your property. And that brings us to the next sign you need renters insurance: You have valuable property you wish to protect.

In this case, “valuable property” may include anything with a high-dollar value. Maybe that means an expensive video game system or tricked-out PC. It could also mean fancy jewelry, designer clothes, and even expensive rugs.

While some neighborhoods are safer than others, anything inside your home is potentially subject to theft and vandalism. And with electronics, you also need to keep in mind that all it takes is a sudden short-circuit to damage the interior of your home seriously.

Long story short? If you have valuable property and rent your home, you should protect that home with renters insurance.

You Are Worried About Liability Issues

Obviously, most people focus on how renters insurance can protect personal property. However, it can also protect you from an unexpected lawsuit!

Imagine that someone is injured in your home. This injury could be from a simple accident or even an unexpected altercation.

Whether you helped cause the injury or not, the fact that it happened in your home means you may be liable for somebody else’s medical bills. And if the matter should go to court, you’ll be on the hook for various legal fees as well.

With renters insurance, you get a high amount for liability coverage and a smaller amount for medical coverage. So if you’re worried about liability issues, this kind of insurance is the best way to make sure you are covered.

You Have a Dog

happy woman in her living room with her dog and renters insurance

Nothing makes a house feel like a home quite as much as a pet. And when it comes to personable pets, there is nothing like the joy of finding your dog waiting for you when you get home.

But like most pets, dogs are unpredictable. There is always a possibility your dog will unexpectedly bite a guest. Or the dog may get out of the front door and unexpectedly bite the neighbor’s kid.

In both of those scenarios, you would be legally liable for the injuries. But renters insurance helps protect against this by providing liability coverage. This coverage protects against cases of negligence, including your dog unexpectedly injuring someone.

You Like to Travel

Everybody has their own reasons for renting a home instead of buying. And for some renters, the primary reason is that they love to travel.

From vacations to business trips, traveling somewhere new is always exhilarating. But every time you are out of the house for extended periods of time, your property is in danger of theft and vandalism.

But with renters insurance, your property is protected while you travel. Simply put, you don’t have to worry about theft or loss with renters insurance.

And if you love to travel, the best part is that renters insurance protects your property while it is in your parked car at home or even in your possession while you travel. To protect the car itself, though, you’ll need comprehensive insurance.

You Are Surrounded by Trees

So far, we have focused primarily on the belongings you have inside your home. The relative value of the property and how much property you own can be a major factor in determining whether you need renters insurance.

However, there is one important element outside of your home you need to consider. Ask yourself: Is your home surrounded by trees?

One of the things that renters insurance covers is falling objects. While this can refer to damage from hail, falling trees are arguably a bigger threat—especially if very tall trees surround your home.

And this may go without saying, but a falling tree can cause extensive damage to the inside of your home. If you are worried about how a falling tree could damage and even ruin much of your property, then you should start exploring renters insurance options today.

You Have Volatile Weather

Do you live in an area that experiences extreme and volatile weather? If so, renters insurance is a real “must-have.”

That’s because the personal property coverage of such insurance can protect against damage from weather-related events, even when agencies such as FEMA cannot help. This includes damage caused by ice, sleet, and snow. You may not think snow is much of a threat, but the weight of snow can potentially collapse portions of your roof.

Speaking of wintertime threats, renters insurance also protects against freezing plumbing, freezing heating systems, and freezing cooling systems. And it also protects against damage from fire or lightning that your home may experience across all seasons.

Some renters may live in very mild, temperate areas. But if your own area experiences extreme and volatile weather, please consider getting renters insurance today.

You Live in an Unsafe Neighborhood

We have reviewed how renters insurance helps protect your home against theft and vandalism. While such protection is important for all who rent, it is especially important if you live in an unsafe neighborhood.

It’s possible to review crime data online to discover how unsafe your city and even your specific neighborhood are. And as a resident of the area, you may already have a good idea of how safe things are based on what you see every day.

If you’re still on the fence about renters insurance, just imagine the ongoing effects theft, vandalism, and damage could have on your life. Should someone damage your refrigerator, you may have no way to store food. Or if someone steals your computer, you might have no way of completing some of the responsibilities of your job.

With renters insurance, you can have things easily repaired or replaced. And then you can get back to life as normal, no matter what happened to your home when you were away.

You Need Peace of Mind

We have primarily focused on the tangible benefits of renters insurance, including the ability to protect your personal property. But there is a less tangible benefit that we should discuss: your peace of mind!

It’s easy to say that the odds of your home being vandalized or stolen from is low. Similarly, you might say that the odds of falling trees or extreme weather are relatively low.

But no matter the odds, you might spend a lot of time worrying about what will happen to your home. This worry may manifest as stress that threatens your overall health.

With renters insurance, you no longer have to worry about what could happen while you are away. Because now you’ll have the peace of mind of knowing your home is covered in almost every scenario.

You Share Your Home

Your rental agreement clearly outlines what is and what is not allowed. And if your policy doesn’t forbid it, you might decide to save a bit of money by renting part of your home out to a roommate. Or you might temporarily rent your home out to someone for the weekend while they attend a special event.

However, taking new people into your home always increases the risk of damage and/or theft of your belongings. And it certainly increases the potential for liability issues if someone gets injured in the home you rent.

With renters insurance, you’ll have enhanced protection anytime you rent your home out. And you won’t have to worry about losing the profits you made to pay for someone else’s medical bills.

Get Renters Insurance Today

Now you know the signs that you need renters insurance. But do you know where to get the insurance that you deserve?

At Freeway Insurance, we make it easy to get started with renters insurance. With just a click, you can get a quote online. If you’d like to visit in person, come see us at a local office near you. Alternatively, you can grab your phone and simply call us at (800) 777-5620 for a quote today.

Ready to Get a Quick Quote?