Home insurance is a type of coverage that protects your home and its contents. A comprehensively designed home insurance plan will cover you against the devastating losses that can come from natural disasters and man-made calamities. Thus, your home is secured against any losses that you may face due to floods, fires, earthquakes, robberies, riots, and so on.
Now, many believe that home insurance is a policy designed to cater exclusively to the homeowner. However, few know and realize the importance that this insurance coverage holds for a tenant. Your landlord might have their own home insurance policy covering the house or flat you have rented. Or, they may not. Either way, your personal furniture, electronics, and other valuables will not receive coverage under the landlord’s plan even if they have coverage. So, it makes sense to secure yourself with your own home insurance plan as a tenant.
If you are new to the concept of home insurance, do not worry. In this article, we will take you through the many benefits that home insurance can hold for you as a tenant renting a house.
1. Protection from burglary
Home insurance gives you coverage against burglary and incidents that involve housebreaking. A robbery can truly leave your home in a state of disarray. Moreover, the loss of your valuables can leave a dent in your savings and also in your heart. With home insurance, you enjoy the relief of knowing that you will be financially secured against the acts of miscreants and criminals.
2. Cover against natural disasters
You may be able to take a few steps to secure your home against robbers but, there is hardly anything that can be done to avoid natural disasters. Home insurance provides much-needed coverage against fire, floods, earthquakes, and other natural disasters that can destroy the property rented to you by the landlord.
3. Accidental damage
You have probably spent your recent bonus on setting up your rented apartment with new glass fittings in the washroom and kitchen. Accidental damage to your home fixtures can thus leave a hole in your pocket. Home insurance covers you against such losses, within policy limits, for true peace of mind.
4. Liability coverage
Home insurance also covers you if a third-party is injured by accident within your rented property. In case this third-party claims damages from you, you can trust your home insurance policy to manage the costs.
A home insurance policy can indeed benefit a tenant in so many ways. Moving in to a new home in a new city is not easy. The entire process of shifting is tiresome and costly. Under home insurance, you secure all the contents that you spent your hard-earned salary purchasing. Electronics, household appliances, and even sanitary fittings get covered under a home insurance plan.
When buying home insurance, make sure to do your research well. Select an insurance provider who has a good reputation for excellent claims settlement and great customer service. We hope this article helps you. Take care.