Is Skipping Renters Insurance Smart?

The majority of renters skip renters insurance. While almost 100 percent of all homeowners have homeowners insurance, renters don’t consider it a necessity half as often. If you don’t have insurance, is the money-saving worth it? The answer is usually no. Here are a few things that renters insurance in Babylon protects you against.

Damages to Belongings

If there fire or flood, you could lose everything. Likewise, if there is a power surge, you may lose all of your plugged in electronics. Many unforeseen events may damage your personal property. Without renters insurance, you are on the hook for all of those costs. With it, however, the insurance covers some or all of the costs.

Temporary Home Loss

If there is a natural or man made disaster and you are forced to leave your home for any period, you are going to need to find a place to stay. In many cases, your property owner only has to pay you a prorated rate for rent. Often, daily rent isn’t going to cover temporary housing. Renters insurance, on the other hand, may cover housing.

When it comes down to it, renters insurance in Babylon is worth the price. Its generally inexpensive compared to homeowners insurance and offers some of the same protections. Don’t leave your personal belongings unprotected.