Elite Leasing is now Miller Family Properties

What is Renter’s Insurance, and Why Should You Get It?

When you hear someone tell you to purchase renter's insurance, you probably think, why should I get insurance? I do not own the home; it's a rental. That is entirely correct. Your landlord owns the house and has the building/structure insured, not your possessions.

Why Do You Need It?

When you get renter's insurance, you pay to protect your personal items if they ever become damaged or stolen. While you do not own the home, you own the belongings inside the home. The insurance of the landlord does not cover your possessions. So, if there is a tornado, fire, or theft, and you do not have renter's insurance, you will have nothing left. You will also have to pay out of pocket to replace the lost items.When you get renter's insurance, you pay to protect your personal items if they ever become damaged or stolen. While you do not own the home, you own the belongings inside the home. The insurance of the landlord does not cover your possessions. So, if there is a tornado, fire, or theft, and you do not have renter's insurance, you will have nothing left. You will also have to pay out of pocket to replace the lost items.


Think of everything that is currently in your home. You have your TV(s), couch, chairs, tables, phone, computer, mattresses, and so on. Now think if you had to buy all those items at once. Ouch, that is going to be one large shopping receipt. Can you even afford to replace them?

Additional Living Expenses Could Be Covered

Now picture that you had such bad damage to the house that it was unlivable and needed repairs. Where are you going to stay while the house is getting fixed? You may not have any close friends and relatives that can take you in for more than a day. If you have renter's insurance, it could cover the additional living expense that you incur for lodging and meals and possibly more! Make sure you read everything that the different insurance companies may or may not offer.

Covers Belongings When You Travel

Your personal items are also covered while you are not at home. So, if you are at a hotel and your possessions get stolen, the renter's insurance can protect you. If your car or bike was stolen or broken into outside of the Piggly Wiggly, you are also covered. You will want to know your deductible before you file a claim. You want to make sure the possession you are filing for meets the criteria.

Provides Liability Coverage

Renter's insurance also covers liability if someone gets hurt while they are in your home. Many different scenarios could happen:


  • Your pet could bite someone in or outside your house
  • You could be having a gathering and a fight break out, and someone is seriously hurt.
  • You could be a lousy cook and give someone food poisoning.
  • If someone tripped or fell while at your home.
  • Someone was drunk when they left your house and got into a wreck.

You will know that you and your assets are protected with renter's insurance. It will help you pay the legal fees accumulated with a lawsuit.

It is Affordable

Often people think about the insurance they usually believe that it is expensive. However, renter's insurance is very affordable. The company that we work with is Rooster's Insurance. The beginning cost of renter's insurance starts at the low price of $9.50 per month. That is only $114 per year! The rate for renters' insurance is very reasonable.


Suppose you are currently renting or thinking about renting. It would be best if you considered getting renter's insurance. It is better to be prepared for a bad situation instead of being stuck in a bad situation.
January 21, 2022
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