Renters' secret to stress-free living with liability insurance
The Benefits of Renters' Liability Insurance
One of the primary benefits of renters' liability insurance is the financial protection it offers. For a relatively low monthly premium, you can safeguard yourself against unexpected expenses that could arise from accidents. According to the Insurance Information Institute, the average cost of renters' insurance, which includes liability coverage, is about $15 per month1. This small investment can save you significant amounts in the event of a claim.
Moreover, liability insurance can also cover legal defense costs if you're sued by someone who was injured in your home. This aspect is crucial, as legal fees can quickly escalate, putting a strain on your finances. Additionally, some policies offer coverage for temporary living expenses if your rental becomes uninhabitable due to a covered event, providing further peace of mind.