is renters insurance worth it?

If you rent your home and you're not sure whether you should get renters insurance, we're here to help. Learn about the main benefits of a renters policy and how it can protect a lot more than you may imagine.

renters insurance definition: how coverage works

As a renter, you're legally entitled to a safe, sanitary rental environment. But your landlord doesn't have to protect the things you keep there. Your landlord's insurance only covers the structure of your unit — not personal belongings like furniture or electronics.

For instance, if your apartment is ever burglarized, your landlord won't reimburse you for those stolen valuables. That's where renters insurance can help.

Replacing the cost of, say, a television or major appliance out of pocket is enough to throw a big-time wrench into many people's finances. Or what if something happens to your place and you have to clear out for a stretch? You might not be able to afford a stay at a hotel.

But with renters insurance on your side, you don't have to wring your hands over what the future holds. You can rest easy knowing you have coverage when you need it most, meaning your hard-earned savings don't needlessly go to waste.

4 reasons to consider buying renters insurance

Still wondering if renters insurance is worth it? You're not alone. In fact, only about 37 percent of renters in the U.S. carry renters insurance.

Don't make the mistake (as many do) of leaving yourself vulnerable for the sake of convenience. While we know it's tempting to pass up on renters insurance to save a few bucks now, it's a major gamble that could end up costing thousands more down the road.

Take a minute to learn exactly what makes renters insurance such a worthwhile — not to mention affordable — purchase, and what kind of security and peace of mind you'll miss out on by going it alone.

1. Renters insurance protects you and your things

Renters insurance is an inexpensive safeguard against expensive and unpredictable incidents. If your bike was stolen, renters insurance can help you replace it. If your laptop, TV, and sound system burn up in a fire, your items could be covered.

2. Renters insurance protects more than just your stuff

Renters insurance also covers expenses if you've been displaced by a covered incident and need a temporary place to stay. Your landlord's insurance policy doesn't cover any of those things — even if a pipe bursts or the electrical system causes a fire, the cost of replacing your stuff gets put on you, the tenant.

And if you get sued because someone was hurt in your home, or you (or your pet) accidentally cause damage at someone else's home, you could also have financial protection with a renters policy.

3. Renters insurance is affordable

Peace of mind is more affordable than you might think. The average cost of Esurance renters coverage is just $10 a month on average.* That's less than a cup of coffee a day! And just imagine how valuable it'll be if, say, your laptop is stolen or your furniture is damaged in a fire.

4. Renters insurance goes with you

If you have renters insurance, your stuff could be protected no matter where it is. If a thief nabs your laptop or smartphone from your car, it's renters insurance, not auto insurance, that often saves the day.

Renters insurance has off-premise protection for your stuff almost everywhere you take it. Your beloved bike, chained up outside your apartment (or workplace, or wherever) could receive as much protection as it would in your home — and the same goes for the rest of your stuff.

get your free quote for renters coverage

Now that you know that renters insurance is one of the most valuable and affordable coverages you can get, here's more good news: it's also one of the most convenient.

All it takes is a few minutes to be on your way to reliable renters coverage, and much-needed protection for your finances, family, and yourself.

Start your free renters quote today.

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