By LYLE WHITWORTH, Allstate Insurance Agent
The cost of owning a home keeps going up. Whether it is the cost of taxes or insuring a home, many people simply can’t afford to own a home. Plus, others can’t qualify for a home loan.
The answer for a lot of people is renting. There are advantages and disadvantages of renting.
So many renters are not aware their property is not covered without renters insurance. They think the property owner provides coverage, but that is not the case.
The landlord typically has coverage on the structure, not your furniture, clothes, appliances or electronics.
You have paid a lot of money for all your stuff. Most of us don’t like having to pay for the same thing twice, but that is what might happen if you don’t have renters insurance and your home or apartment is hit by thieves, or destroyed by fire or a storm.
A renters policy will protect your stuff for a month for less than it costs for a night out on the town. You can choose the amount of coverage and the deductible to make the premium fit your budget.
Also, many companies will give you a discount on your auto insurance if you have renters insurance with the same company, along with an additional discount on your renters insurance.
Many companies also provide liability protection, medical coverage and even money for living expenses if you are forced to move because of a covered event.
To find out more about protecting your stuff, call or visit your local insurance agent.