First time moving out of the house? Do not be surprised if you're overwhelmed with the number of responsibilities you have to face, and the number of choices you have to consider in the course of smoothing out your new life as an independent taxpayer! Insurance is one of the things that you absolutely have to take into consideration. But the kinds of insurance out there in the market might overwhelm you even more! You might find yourself asking: What is renters insurance? How can I protect myself from the potential risks of renting a home?
Well, luckily, you do not need to be in the dark for much longer. If by the time you move out, you still have to ask "What is renter's insurance?" you're actually asking for someone to take advantage of you! It is best to secure a renter's insurance as soon as you move in, so that you are able to protect yourself against the common problems faced by someone who has just moved into his or her own living space.
You may finally appreciate how having one's own living space is not as easy as it used to look, when you were stuck with your parents and had to abide by their house rules. As someone who is responsible for pretty much everything in a new living space, you should finally be able to appreciate the house rules your parents or guardians tried so hard to make you stick to, while you were growing up! House rules are there to make sure everything in the house runs smoothly. For malfunctions and everything else, there is renters insurance.
Once the lease is signed, the tenant (to be more specific, you: the person who is leasing a specific area of the building for any purpose) is obligated to take care of everything inside his or her area of responsibility. But no matter how vigilant you are, things could always get out of control. Bear in mind that some devastating problems are not easily visible, or foreseeable. Faulty wiring, for example, could just creep up on you while you are sleeping, while you are away and you left the Tivo plugged in, or other inopportune moments.
It is best to secure renters insurance in case of emergency. This is the kind of insurance that you, as the renter, must take the intiative to get. This is not included in your contract with the building manager. This is protection from accidental fires, electrical surges, theft and other unforeseen potential tragedies.
If you are in correspondence with an agent who is selling property insurance, make sure to ask him or her: "What is renters insurance?" Getting a good answer – as well as a good premium – will save you a lot of grief in the future.