Buying a new house means getting insurance coverage. Renting a room in a flat also requires you to get insurance. There is a thing called a tenants insurance policy. This is separate from the insurance on the building itself. Since you are not the landlord, you are not responsible for getting the insurance policy for that. You want to secure yourself and your family though, so it is important to get tenants insurance. Here are some more reasons why.
- Room contents are not included in the insurance coverage. Even if your landlord says the place is insured, what he means is that the building itself is insured. If it gets burned down or flooded, he will be paid for the insurance coverage, but not you. Since you are only a tenant, if the items inside the house are lost or burned, you will not get anything. This is why you need this type of insurance so you also have some sort of protection.
- You don’t have to fight with your landlord. Since you are unaware of how the insurance policy works, you might feel like it is unfair that you have not received anything after the disaster. You will end up fighting with your landlord if you have heard he is getting something. This is a futile effort. Take note that you are not included in the insurance coverage. You really are just embarrassing yourself by fighting.
- You can easily move forward with life. You are just a tenant in that place and you can easily find a new place to stay. If you have an insurance policy, you can replace what you have lost and just move on with life. You are not responsible for the repair of the place anyway unless of course its destruction was caused by you. It is stress-free if you can easily move forward and not think about all these issues.
- It lets you sleep well at night. When you know that you have insurance and protection, you can easily sleep well at night. You know that you and your family are protected. Even if you are just renting a place, you will still feel secure. It is like being in your own house.
There are different types of insurance policies for tenants that you can choose from. You just need to make sure that you find one that is suitable for you. Consider the amount that you can afford for paying premiums for the coverage. Once you have chosen the perfect insurance provider, you can seal the deal. Make sure that you find one that is transferrable just in case you decide to move on to another place.
