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No Way Home: Only If You Aren’t Protected By Renters Insurance

Last Updated: 19 Dec, 2021

As a millennial, it is exciting to step out in the world of adulting and becoming independent. When you move out of your parent’s home and start living on your own, things can get quite overwhelming because “With Great Power, Comes Great Responsibility.” Since you are saving up your income to buy a place on your own, you must be renting out property right now. If you are already renting or planning to rent an apartment, renters insurance is a must. Renters insurance in Atlanta is a must since most landlords ask you to get one.

Furthermore, renters insurance in Atlanta may have different requirements. The term insurance and everything associated with it can be boring for us millennials. However, educating yourself on this topic and learning about all the risks is very important. 

According to National Assocation of Insurance Commissioners (NAIC), 29% of consumers who are millennials thought renters insurance costs above $1000. Hence, most of them avoid purchasing one. In reality, a typical renters insurance costs $187 a year on an average. A lack of understanding about insurance and its importance plays a huge role in avoiding such crucial investment. 

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renters insurance

Why Should Millenial Purchase Renters Insurance? 

A common misunderstanding for millennials could be that landlord’s insurance policy will provide coverage for you. Somewhat true, your landlord has an insurance policy but it only covers the apartment or the building. However, it does not cover your personal belongings inside of the apartment. You are liable to protect your assets. Hence, renters insurance provides coverage for your personal items. You can contact an insurance producer to guide you through it. 

In simple words, renters insurance compensates for your loss if your personal items are damaged, lost, stolen due to fire, theft, vandalism et cetera. You can even get a certain amount for your alternate living situation if your unit because unlivable for a while. This is one of the most prominent parts of the property and casualty insurance line. Some of the coverages in renters insurance in Atlanta are as follows: 

  • Personal items: Includes items lost from areas outside of your home as well. Such as items stolen from your car or while vacationing. 
  • Personal Liability: If your guest injures themselves on your property, then you are liable for their medical treatment. A personal liability comes to the rescue. You can even contact an insurance agent or a company with the help of an insurance directory. A directory has membership plan which allows only authentic insurance agents or carriers to register.  
  • Valuable items: It includes jewelry, fine arts, or any other valuable possessions. You can ask for an insurance agent with an AAI designation for more information. An accredited advisor in insurance agent can help you the best in such situations. 

 

FAQs

  1. What is renters insurance?

It is a type of property insurance that covers the contents, liabilities, and possibly living expenses of a policyholder in the event of a loss.

  1. What does renters insurance cover?

Damage to or theft of personal property, personal responsibility, emergency medical bills for guests, and additional living expenses if you must temporarily relocate are all covered.

  1. Do I need renters insurance?

If your landlord or your building requires it, you’ll need renters insurance.

renters' insurance arizona

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Renter's Insurance Agency Lafayette 

(470) 280-6551 

Lafayette GA 30728 

Business Hours:

Monday 8 AM - 8PM

Tuesday 8 AM - 8 PM

Wednesday 8 AM - 8 PM

Thursday 8 AM - 8 PM

Friday 8 AM - 8 PM