If you rent an apartment, condo, townhome, single-family home, or any other type of dwelling, you probably think that you do not need to acquire insurance in Connecticut to protect your belongings and the building’s structure. However, if you don’t have renters’ insurance, there are two primary reasons why you should acquire a policy as soon as possible.
Your Landlord’s Policy Probably Doesn’t Cover You
Many renters wrongly believe that their landlord’s insurance policy will replace their personal belongings if a fire, flood or another disaster occurred at their home. However, most landlords only have enough insurance to cover the actual building. Without renters’ insurance in Connecticut, you may be held financially responsible for replacing your belongings if they were to become damaged in a disaster.
Replacing Your Belongings can Cost Thousands
Another mistake many renters make is thinking that since they don’t own anything valuable, they don’t need to acquire a renters’ insurance policy. However, if you take a step back and think about it for a second, even just replacing your primary possessions could cost you thousands of dollars. A renters’ insurance policy makes sure that you are not responsible for this expense.
Remember, the best time to obtain renters’ insurance is before something happens. If you don’t already have a policy, you may want to speak with an insurance professional in your area about your options.