Perhaps you are moving into your new home in a few months. You need a place to live for just a bit while you wait for the documents to go through. You decide to rent an apartment through a short-term lease. This gives you the ability to have that extra time you need. Should you invest in renters insurance even though you are only going to be in the property for a short amount of time? In many cases, this form of property insurance is critical to safeguarding your home’s valuables. Yet, many people are interested in finding ways to keep costs low during this time. Should you get a policy?
Short-Term Leases Still Expose You to Risk
It does not matter how long you plan to rent. If you are living in a location for any amount of time and a fire ignites, or any other host of damaging events occur, you are at risk. For this reason, even those living in a short-term space should consider the value of renters insurance. While this is not often a required type of insurance, it does provide you with financial protection from the risks that can take place, such as:
- Fire damages your belongings while you are living at the apartment
- A friend visits, falls and is hurt, leading to costly medical bills
- Your computer system is stolen
These types of risks exist no matter how long the timeframe is that you live in the apartment. However, many insurance providers do offer flexible plans and very inexpensive policies. You do not have to lock in a policy, for example, for a period longer than your lease. This helps to keep costs very low and affordable in most cases.
For the peace of mind that renters insurance provides, it is nearly always a good investment for today’s renters. Simply, you don’t know when something could happen and hopefully it does not. But the financial losses from stolen items, liability claims or lost property can be high otherwise. With the right type of renters insurance, you don’t have to worry about the risk of having to foot such a bill to replace your items right before moving into a new home.
Get a free quote today. Call Hill & Stone Insurance for more information on renters insurance.