Why You Might Need Geico Renters Insurance

Many assume that all Geico offers is car insurance, but that’s not accurate. Geico also offers renters insurance to those who do not currently own their homes. This is often thought of as a controversial type of insurance since so many people are under the impression they don’t need it. They forget that they actually do need this kind of insurance, because they are actually responsible for many things that could happen to the home in which they are living. If you do not have renters insurance at the moment, you might consider purchasing a rental policy so that you can protect yourself in the instance something tragic happens in your home. We aren’t saying something tragic will happen, just that it’s always a good idea to go ahead and make sure you can protect yourself in case it does. Don’t make assumptions until you know the whole story; and always remember that it is far better to be safe than it is to be sorry.

What Does Renters Insurance Protect?

If your rental burns down or someone breaks in, your rental insurance policy is going to cover everything from your clothing to your jewels to your furniture and your electronics. If you do not have this policy and something burns down, you might not receive any funds to replace these items. And since most of these items are purchased over time, it will be very expensive to purchase all new belongings at one time.

Who Needs Renters Insurance?

If you rent a home, you need renters insurance. Even if your landlord has insurance on the building or home, you need your own policy. After all, your landlord is not about to pay you to replace your belongings if they’re lost. He likely has just enough insurance to cover the structure, which is the only part of the home he actually owns. You’ll find yourself in a precarious situation if this happens and you do not have insurance to cover your own losses.

Additionally, it can protect you. Say that your home leaks water and damages the home below yours. You are responsible for that and it could come back on you, and if you don’t have the cash to pay for that, things could become very stressful in your home in terms of your finances.

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