Updated February 2, 2020 . AmFam Team
We get it — getting renters insurance probably isn’t at the top of your to-do list. You’re busy pursuing more important things, like that dream to own a house, saving money to travel the world or maybe even working on starting your own business. But it’s because of those things — your future — that renters insurance is so important to have right now. It’s an easy, affordable and convenient way to protect everything you work so hard for.
From protecting your personal property to shielding you with liability coverage, renters insurance is a no brainer. Let’s take a look at why you need renters insurance and how to get covered — it’s simple, we promise!
If by “need it” you mean “required to have it” — then nope. You don’t need renters insurance. Unless your landlord requires you to have a policy in place (and there are some landlords who require it) then you don’t necessarily need renters insurance. However, it can be a smart investment, considering it helps protect your lifestyle and your belongings. Watch this video for why a renters policy may be right for you, then keep reading to learn more about the value of having coverage.
Getting renters insurance doesn’t have to be complicated or time consuming. Follow these steps and get the coverage you need in no time:
1. Understand your coverages
The first step to getting renters insurance is understanding what you’re getting. Research your coverage options and limits. A standard policy typically includes personal property coverage and liability, but you have options to purchase a variety of other coverages to broaden your safety net. Here’s a good place to start to better understand your options (Opens in a new tab).
2. Estimate the value of your stuff
Think about your living space and do a quick calculation of everything you own. It’s probably more than you thought! Knowing the value of your belongings is key to choosing the right level of protection. Make sure you’re estimating their current value (not what you originally paid for them). Use our renters insurance calculator (Opens in a new tab) to quickly estimate what all your stuff is worth, as well as get a quick quote on what it’d cost to cover it all with renters insurance.
3. Research and compare insurance companies
Part of getting renters insurance is shopping around to find the right fit. Of course cost is important, but what else do you get from your insurance provider? Are discounts important to you? How about great customer service? Maybe you want to bundle your renters policy with an existing auto insurance policy. Take your time to find value in your decision.
4. Get a renters insurance quote
Now that you have a few insurance companies in mind, it’s time to start quoting. At American Family, you can get a quote online or by contacting an agent. We want to make sure setting up renters insurance is simple and convenient for you.
Are you ready to start the renters insurance process? Connect with an American Family agent (Opens in a new tab)and they’ll help build you a policy that best fits your needs.