Not everyone is in a position or even has the desire to own their own home. In fact, a large percentage of people throughout the United States rent an apartment or house. If you are one of those people who rent their home, do you have renters’ insurance? Why is this important?

A renters insurance policy is designed to cover you if you experience damage or sudden loss of your possessions. While a lot depends on the type of insurance you have, your renter’s insurance will also cover damage or injury to a neighbor or their personal property, etc.

If a renters insurance policy is such a good idea, why do many people still choose not to have one? There are a few reasons. For example, some may feel that renter’s insurance will be too expensive, but some policies are actually very affordable. Others may think that they do not own anything of value, so there is no point in having insurance. However, when you add up how much you would need to replace those so-called worthless belongings, you will see how much value they really have. Yet another reason is that a tenant may believe they are covered under the homeowner’s insurance policy. You should check this, though, as you may not be as covered as you think.

So, if you are renting your home and still do not have a rental insurance policy, why not look into it and explore your options? It may be a little more within your reach than you think.