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Renters Insurance: Is It Really Worth It In El Paso?

woman sitting on the floor in front of a rough life size sketch of a roomEl Paso continuously ranks as one of the safest cities in the United States. But does this safety give renters in a false sense of security? Renters may not think about insurance too often. While most homeowners—about 95 percent—have homeowners insurance, a much lower percentage of renters buy renters insurance. On average, about 40 percent of renters decide on getting insurance. For some, it may seem unnecessary but it’s a great way to make sure your belongings are safe in case of emergency. If you’re in the El Paso area, Pan American Insurance can help.

Renters Insurance Covers Your Personal Property

People who live in the safest neighborhoods and apartment complexes should never let their guards down. Let’s say your apartment gets broken into while you’re at work and your belongings get stolen. Your landlord won’t be responsible unless you can prove negligence on the landlord’s behalf. Since this will only stand if your apartment didn’t have locks on the doors or windows, it can be somewhat difficult to place the blame on the landlord. A renter without insurance will have to pay out of their own pocket to replace any stolen items. A renter with insurance, on the other hand, will be have the cost of replacement covered. Not only are your personal belongings protected from theft, they’re also protected from fire, natural disasters, vandalism, and more.

Renters Insurance Covers Other Things

Not only does renters insurance cover your belongings in case of theft or damage, it also helps you in case of other issues. Say your apartment becomes unlivable due to fire or water damage. Renters insurance will cover the cost of staying at a hotel for the time being. Even if someone gets injured in your apartment, your insurance policy may be able to cover their medical costs. Renters insurance also takes care of any damage that you might’ve caused, such as letting the bathtub overflow. If this occurs and your landlord decides to sue you to pay for the damages, the insurance will kick in.

But Remember, Renters Insurance Doesn’t Cover Everything

Although renters insurance may start to sound like a perfect godsend, it doesn’t cover everything. Just like all insurance policies, renters insurance has coverage limits. This all depends on your own wants and needs so make sure to choose coverage that perfectly suits you. Pan American Insurance is proud to help. Contact us today to learn more about what we have to offer!


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