When you rent a home, you might not think about how your belongings will be covered or replaced in the event of a natural disaster, fire, or another type of emergency. While the landlord could have insurance on the home itself, it likely won’t include your items that are inside. This is when an insurance policy can be beneficial.
Cost
Even if you’re on a budget, renters insurance in Peoria, AZ is usually affordable. Most policies are less than $200 a year depending on the amount of coverage that you purchase. Keep in mind that as the value of your belongings increases, the amount that you pay for the policy could increase as well. Your deductible will usually be a factor in how much you pay each month when choosing your policy.
Personal Items
A benefit of renters insurance in Peoria, AZ is that the belongings that you have in the home will be protected. These items typically include jewelry, clothes, computers, electronics, and furniture. Even if you live in a small home and don’t have a lot of belongings, the value of what you own can add up rather quickly, which can be much more than you’re able to afford if you have to replace everything.
Requirements
Some landlords require that you have insurance, especially if you have pets that might damage the inside of the home. The landlord could also require a personal policy so that they aren’t responsible for replacing the items that are lost by paying out of their own pocket.
