Many residents in apartments in Raleigh, NC are renters for the first time. If this is the case, be sure to purchase renter’s insurance. Renters insurance is relatively cheap and covers a lot more than your personal possessions in the home. It does cover the replacement value of your possessions in the event of theft, loss, or other destructive events, but it has other benefits too.
For one thing, renters insurance comes with liability coverage to protect you if anyone is injured in your home. If your kitchen floor is wet, and your friend slips and breaks a leg, you could be found liable. However, with renters' insurance, the liability coverage can pay for their medical bills and other damages.
And, if your home is destroyed or damaged by a fire or other disaster, renters insurance can pay for your temporary living expenses, like a hotel, while your home is being repaired.
Most rental insurance policies are very cheap for the coverage they provide (usually less than $20 per month), and it's a wonder that more people don't take advantage of the coverage offered. In fact, according to one survey , only 31% of renters have renters insurance.
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