Many
people agree that insurance is vital for everyone. From life to
medical insurance, there is need to be covered to protect a person
and their loved ones from losses that may occur in the case of
emergencies. What many people tend to ignore, however, is tenant
insurance. To many, getting a tenant insurance is equated to misuse
of money since they believe that accidents that may occur while they
are in a rented house are covered the landlord’s insurance. This is a
misconception since the landlord’s insurance does not cover damages
caused by accidents on the personal belongings of a tenant. As such,
tenants are required to get their insurance to protect them from
these losses.

Even
though tenant insurance is not a requirement by law, it is essential
to have one to protect a tenant from any eventualities. The following
is the importance of tenant insurance.

1.Covers
for liability.

It
is possible for a tenant to cause damage to other people’s property
as well as causing unintentional injury to their neighbors. It could
be the tenant’s dog biting a visitor or even causing an accidental
fire that spreads to the neighbor’s property. These situations happen
when people don’t expect and are therefore called liabilities. Paying
for these liabilities is always expensive. From repaying the damaged
property to paying for hospital bills, this can be so stressing.
Holding a tenant insurance is crucial since it will cover these
losses hence giving a tenant peace of mind.

2.Temporary
living expenses.

A
tenant insurance cover is important when it comes to covering the
additional costs that may arise in case a tenant has to move out of
their home temporarily because of insured losses. When floods or fire
damage a house, an insurance policy will provide temporary housing as
the home is being repaired. During this time, all the expenses are
settled by the tenant insurance policy until when they can return to
their home.

3.Protects
personal belongings against accidents.

Losing
personal belongings as a result of accidents like fire and floods is
always detrimental to many tenants. Without insurance cover, it is
always costly to replace all these things. Acquiring a
tenant-insurance will give a tenant peace of mind during this hard
time. Because a tenant-insurance covers for the losses that may occur
due to accidents. These personal belongings may include; furniture,
electronics, kitchen appliances just to name a few.

4.Legal
cover.

There
are times when disputes arise between a landlord and the tenant
concerning the property, the tenant insurance at times can provide
for legal cover for the tenant. Equally, if a tenant is injured as a
result of a fault within the property due to the negligence by the
landlord, the tenant insurance cover can provide legal support if the
tenant wants to claim compensation.

5.Protection
of property while off premises.

A
tenant may decide to travel or go away from home for some time, for
one reason or another. During this time, their property may not have
anyone around to protect it. There are risks of losing property or
coming back to find it damaged by intruders. It is therefore
essential that tenants get insurance

as
it will cover their property and thus saving them the stress of
getting losses.

6.Home
upgrades.

A
landlord’s insurance only covers the upgrades made by the landlord.
The improvements done by a tenant are always not covered, and in case
of damages, the tenant is likely to go at a loss. As such, tenant
insurance is crucial since it will cover the improvement that they
make. They can, therefore, be liable to seek compensation in the
event an accident occurs and the repairs get damaged.

7.Protection
against theft.

Theft
and cases of burglary happen once in a while. When thieves invade, or
burglars get into the home of a tenant and make away with their
property, these possessions are usually not covered by the landlord’s
insurance. Tenants need to take an insurance policy because it
protects them against cases of theft and burglary.

With
the above benefits, people should regard tenant as important as other
forms of insurance. This way, many people will be protected from the
everyday damages and losses.