Why Military Families Who Rent Should Have Renter Insurance
If you PCSed this summer, you are probably getting settled in your new home right now. Many people who move frequently choose to rent their homes instead of buy them.
AFI offers Renter Insurance for families who are renting, living on base or are planning to rent.
Why Rent?
Frankly, sometimes it’s just easier not to deal with a long-distance house hunt. Then, there’s the maintenance once you actually move in and start living there. It’s often easier to let a landlord or management company deal with repairs and routine maintenance.
Finally, if you do buy a house, you have to deal with the hassle of selling or finding tenants when you move again.
For these or any number of reasons, you may determine that renting is the best option for you and your situation.
Alternately, you may have elected (or been told) to live on base. In that case, you will definitely be renting.
A Small Price to Pay for Peace of Mind
When you live someplace for a short period of time, renting can be an effective way to reduce your stress.
Renter insurance is another way to further bring those stress levels down. While your landlord or a property management company may be responsible for those things - big and little - that pop up when you live someplace, you need to protect your own possessions and property, as well.
Take a look at your policy with your landlord to see what they are responsible for covering. In the event of a fire, flood, or theft, often only you are responsible for repairing or replacing your own things.
A renter insurance policy is essential to protect yourself against the cost of replacing your furniture, electronics, and heirlooms. Your policy may also cover the expenses in the event of certain accidental (i.e. water or fire) damage. Avoid the likelihood of paying out of pocket if a landlord holds you responsible for these repairs.
Additionally, it bears mentioning that many places will require you to provide proof of renter insurance. You often don’t have a choice if you want to live in a certain place or property.
Moving and setting up a new home is mentally taxing already. Choosing the right insurance takes some huge concerns off of your list of things to worry about.
Getting Started
The important part is choosing the right policy for you, your budget, and your situation.
Begin by determining how much your stuff is worth. This can be daunting whether you’re a minimalist or an avid knick-knack collector.
However, you don’t have to fly blind. Armed Forces Insurance (AFI) provides a helpful Household Inventory Booklet that can be a useful tool in this process.
Go room-by-room, and record when you acquired each item, and how much it costs. Make sure you pay special attention to your valuable items (jewelry, electronics, etc.). And don’t forget your front and back yards, basement, and attic!
Keep this list someplace safe, along with your other important paperwork and records. It’s a living document, so be sure to update it as you acquire new things.
Get a No-Obligation Renter Insurance Quote from AFI
Even if you are unsure of the value of your personal property, your dedicated AFI agent can help you determine an appropriate amount of coverage. Additionally, you can apply online in minutes!
For renter insurance policies specifically tailored to the needs of today’s military families, get a free, no-obligation quote from AFI. Our Personal Liability Insurance and Household Good Insurance policies provide worldwide coverage, protecting you, your family, and your belongings at home, during deployments, while you’re in transit, and when you have property in storage. AFI’s renter insurance is portable - simply give us a call each time you move, and bring your coverage with you!
Take some of the uncertainty out of military life with AFI renter insurance.