Did you know that 6 out of 10 Americans who rent do not have renters insurance and 45% of them say they lack renters insurance because of price. The cost for renters insurance can range depending on what state you are in. For example here in North Carolina, $20,000 worth of contents coverage can average about $100 a year, that is only $8.33 a month to protect your clothes, TVs, computers, and furniture.

Along with protection for you personal belongings, renters insurance provides personal liability to protect you if you are sued. For example you own a dog and it bites someone and they sue you, if you don't have renters insurance, you could have your wages garnished to pay the victim for their medical expenses.

Another great coverage with renters insurance is additional living expense. You are awaken in the middle of the night and the apartment complex is on fire and your apartment is now unlivable due to smoke and water damage, where do you go? The additional living expenses coverage will provide funds to stay at a hotel, get you some clothes and meals while your apartment is repaired.

A lot of people assume that the landlord's insurance will provide coverage for your personal belongings especially if you rent a single family dwelling where an individual owns the home. Landlord's insurance policy does NOT cover personal belongings or liability if someone is injured or another person's property is damaged while in your residence. Even if they haven't replaced the roof in along time and there is water leaking into the home and damages your personal belongings, the landlord's policy does NOT cover your personal items. Another case is when you are at college and renting an apartment in your own name and assume your personal belongings are covered under your parent's homeowners policy, if that residence is your legal address and the lease is in your name only then there is NO coverage extend from your parent's policy.

Renters insurance is very affordable, even for those of you who don't think you can take on one more expense. Talk to an independent insurance agent today about how you can benefit from a renters policy.

Can you risk not having renters insurance at $8 a month? Can you replace all your belongings with $8 a month if you didn't have renters insurance?
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