Many People In Wisconsin Rent
Home prices have rebounded partially back to their pre-crash levels. To some, this makes home ownership no longer affordable. To others, it’s a great chance to get out of a bad mortgage or a bad house without having to bring cash to the table at closing. It makes sense for many people in Wisconsin to rent for a variety of different reasons. The one thing they all have in common is that they need Wisconsin renters insurance.
Official Wisconsin Renters Insurance Guide
The Official Wisconsin Renters Insurance Guide from Effective Coverage offers information and tips for protecting your family and your assets with renters insurance in Wisconsin.
Why Do I Need Renters Insurance?
Your landlord likely requires it in the terms of your lease, first of all. While that’s not the best motivation for having renters insurance, it’s certainly a valid one. Other reasons that people have renters insurance include protecting their personal property from perils like fire, theft, and vandalism. People also carry renters insurance because they know that we live in an overly litigious society and sooner or later they are likely to be sued for some perceived harm or injury done to another. Renters insurance can respond to claims like that, frivolous or legitimate, and in some cases even provides a defense if things progress to the point where it is necessary.
How Much Does Renters Insurance Cost?
Before we answer how much does renters insurance costs, we have a counter-question for you. Add up everything in your home, including all of your possessions and valuables and all your day to day things that you never even think about. All of those things cost money. Tally it all up. Now double that number to account for things that didn’t even cross your mind to put on the list. It happens to everyone, and that’s a pretty standard formula. Now envision a fire. You need to replace everything you own out of pocket immediately. Could you do it? Could you write the check for tens of thousands of dollars just to get your life back to where it was? Very few people could. Consider a lawsuit over something ridiculous. Could you afford a defense? Could you pay the judgement?
What is the cost of not having Wisconsin renters insurance? Quite significant, we think you’ll agree.
Renters insurance costs around $15.00 a month for a basic package with $10,000 of personal property and $100,000 of liability. Limits can be increased to match your lifestyle, often without significant increase in the cost. Two trips for fast food is how much renters insurance costs in Wisconsin. Is it worth it to go without? We think not.