Millennials are now the largest segment of our population. They soon will be the largest percentage of our workforce. The “everyone gets a trophy” generation has gotten some bad press, but they are social, socially responsible and tech-savvy. They also don’t like paying for more than they use. This has led to the popularity in ride-sharing, use of rental bikes and scooters and a slower trend toward homeownership. There’s nothing wrong with this philosophy and some view it as a way to minimize obligations and expenses. This can lead to the mistaken notion that if one rents a home or apartment, they don’t need to have insurance.
The fact is that the landlord or property owner may have coverage on the rented structure, but that coverage will likely not cover the tenant’s contents and belongings. Furthermore, it doesn’t relieve the tenant’s responsibility for any injuries that may occur in their home or apartment. The solution? Renters insurance.
What is Renters Insurance?
Renters insurance is a policy that covers those who choose to rent the space they live in. There are three significant ways renters insurance protects tenants.
It is Affordable
Millennials and everyone else for that matter will appreciate how affordable renters insurance can be. It can generally be acquired for just a few dollars a week.
Just because you rent your home doesn’t mean you don’t need insurance. The good news is, it is a much cheaper option. Contact us to find out how renters insurance can provide you just a bit more peace of mind.