What is Renters Insurance Policy and do you need it?

Featured 24 Jun 2017

Remember the days when you got your first job? There was a struggle to be in a new city, find the perfect flat to rent, and settle in. You might think about buying your own place, but there’s a certain convenience attached to renting a house. Your landlord takes care of everything. You just have to pay your rent on time.

Staying away from your family also means that you want to visit them. Unfortunately, while we travel, it is also the time our houses are the most unprotected. There’s always a chance of burglars robbing your house of all your precious gadgets and appliances. And can you imagine the horror if some kind of a natural disaster takes place and your house is affected?

It’s true. Your landlord probably has a home insurance policy that covers the building structure. But what about your belongings inside the house? You spent money making this place into a home from a house, bought appliances, did it up beautifully with furniture and decor. If there’s an earthquake while you’re away, your belongings might be all broken. The landlord won’t be affected at all because his building is insured, but you might lose everything you possess.

Think about all the belongings you own, and you’ll realise how much they actually add up to. Or better still, do an inventory check and see the costs that you might suffer if you don’t protect your valuables now. In fact, it’ll be worth more than the cost of your rent also.

For moments like these, the perfect solution is – Renters Insurance Policy. It helps protect you and your belongings from burglaries, fires, natural disasters and more. A typical Renters Insurance Policy includes liability coverage and protection for your belongings. While you may not always be able to prevent certain situations, such as a break-in or visitor's injury, this insurance helps to minimize the impact.

Now that you know exactly how important getting this Renters Insurance Policy, don’t think twice about it. Get it and voila! All these concerns will be put to rest.

After all, Digit always has your back. And to know more about what it covers, you can read our blog on home insurance and renters insurance policy.