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Do You Need Renter’s Insurance?

March 30, 2020

If you’re a renter and you value your possessions, you should absolutely invest in renter’s insurance.

Read on to learn more about what renter’s insurance means for you and your home.

  1. What is Renter’s Insurance?
  2. What Does Renter’s Insurance Cost?
  3. What Does Renter’s Insurance Cover?
  4. When to Call CreditGUARD

What is Renter’s Insurance?

Renter’s insurance is a type of policy especially for renters who don’t own their homes. In many cases, it’s a requirement that you get renter’s insurance before you move into a rental property as a clause in the lease agreement. Renter’s insurance is important because your landlord’s property insurance won’t cover you in most cases such as vandalism or burglary.

What Does Renter’s Insurance Cost?

Because many management companies and landlords require renter’s insurance, it’s important you know how much to expect to pay.

One of the great things about renter’s insurance is that in almost all cases, it’s affordable. Recent pricing indexes show that the costs range by state. That said, it could be as low as $15-$25 per month. You can get it from most insurance agencies and can also get it bundled with your car insurance if you choose to do so.

What Does Renter’s Insurance Cover?

Could you put a dollar amount on every single item in your home?

Most of us have appliances, televisions, clothing, books, phones or computers, jewelry, and the list goes on.

Chances are, it really adds up!

So it makes sense to make sure your home and possessions are covered should an incident occur.

  • The good news about renter’s insurance?
  • It covers your possessions in the case of fire, theft or burglary.
  • It can also be used to pay for accommodations in the case your home is rendered unlivable due to fire, water or smoke damage.
  • You can also buy additional riders for your valuables like jewelry, collectibles, musical instruments or heirlooms.
  • Renter’s insurance can be used for liability coverage in the event a guest is injured at your residence.
  • Your renter’s insurance may also cover you if your valuables are stolen from your car.
  • If your landlord sues for any reason, you can use your insurance to pay toward your legal defense in some cases.

When to Call CreditGUARD

Renter’s insurance is an important consideration when looking to lease a home. However, if you’re concerned about the cost of renter’s insurance on top of other expenses, try not to fret. CreditGUARD may be able to help.

CreditGUARD can’t help you buy an insurance policy or file a claim on your renter’s insurance. However, if you’re dealing with a credit card debt situation that feels bigger than you can resolve on your own or you’ve been falling behind on your monthly payments, call one of our certified credit counselors to learn more about our process and our programs here at CreditGUARD.

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Also See…

For more information on debt consolidation, please visit:

Why Choose CreditGuard? Learn what sets our debt consolidation services apart from the rest and how we can help you take control of your debt.

The Ultimate Debt Survival Guide. Need some practical advice for dealing with debt? You’ve come to the right place. This free downloadable guide can teach you the basics of managing debt (and more).

Is Debt Settlement a Good Idea? Debt settlement and debt consolidation are not the same. Learn more about the process (and consequences) of settling your debts before going down that path.