We are usually pretty good about maintaining our health and car insurance, but what about renter’s insurance Nationally, only 44% of renters are covered by any policy. That means over half of the population is exposed to risks like fire, theft and vandalism. Don’t let yourself be in that category.

Maybe you didn’t even know renter’s insurance was an option. What is it? A renters insurance policy is a group of coverages designed to help protect renters living in a house or apartment. A typical renters insurance policy includes three types of coverage that help protect you, your belongings and your living arrangements after a covered loss.

You might say you don’t really own anything of value. Let’s start adding it all up if, for example, your apartment becomes engulfed in fire. Now you will have to replace everything—sheets, towels, forks, furniture, clothing and on and on. Are you prepared to do that with no assistance? Probably not. So why not spend a few minutes to make sure your belongings are covered and get that total piece of mind.

The first question might be, ‘how much coverage do I need’? But before picking a number, take some time to survey some primary information:

• Start adding up everything you own—be sure to use the retail price as most policies offer replacement cost.
• Then go ahead and tack on another 25-50% to that total to account for those things you forgot about.
• If you don’t already have a list of your property, as well as pictures, get started on that. And don’t store those in your apartment—you will need to access that quickly in the event of a claim.
• Don’t be surprised if your list adds up to thousands of dollars very quickly. But don’t stop there.
• Where will you be staying while your apartment is cleaned from a fire or flood? And how will you pay for it?
• And let’s not forget the hardest question to get answered—who’s fault is it? If you are at fault (i.e. a candle unattended or a cooking grease fire), you will have a whole host of other people to pay out.
• So, finally, ask yourself–Do you want to make payments for 50 years because you didn’t have insurance? The cost of a monthly premium is far less than the cost of replacing all of your belongings.

Now that you are fully in with the idea of needing renters insurance, how do you determine how much coverage is right? California rental insurance coverage is very affordable and has nothing to do with your credit score either! The average price of a rental insurance policy per year is less than $200. That equals pennies a day for you.

Some landlords might require a policy around $100,000 worth of coverage. That is for their peace of mind, not yours. For a few dollars more, you can get $300,000 or $500,000 worth of coverage to protect you. You will need to review the details with your agent to determine the best coverage and amounts.

The bottom line is that renter’s insurance will make you safe. Not only will you have piece of mind that you are covered, in the event of an incident, you will know you are covered and be able to make the right decisions in the heat of the moment.

Don’t waste any more time. Reach out to your local agent at California Southwest Insurance Agency and get a quote today.