Insurance Designed For The Needs Of Renters
More often than not we spend a period of time renting the homes we live in. As a tenant you don’t have a mortgage to take care of, but you’ve still got assets of your own, and others, that you need to protect.
How would you be affected if all of your assets were lost, stolen or damaged? How much would you be out of pocket if your house was burgled and you had to replace all of your belongings? What would happen if your landlord’s insurance didn’t cover a fire you accidentally started? Or if you couldn’t work because of a serious illness, and were about to be evicted because you couldn’t keep up with your rent?
As tenants, we often overlook the need to protect the things that are important, valuable or sentimental to us. But we’re still at the same risk of loss or damage to the things we’ve worked hard for.
While some of us aim to own homes some day, you still need to protect your assets and yourself from the unexpected when renting. You might have a plan to save for a deposit on your dream home, but if you had to replace the flooring of your landlord’s laundry because you flooded it with the washing machine, this might be a set back for you in both time and money.
That dream house deposit would also be hit hard if you had to stop working for some reason such as illness, injury or redundancy. Not only would your savings slow down – if not cease for some time – you’ve still got to make sure that your bills, especially your rent, is covered.