If you are renting a home for a long period of time, you likely know the importance of purchasing renters insurance. But, not everyone rents a home for a prolonged period of time. You may be renting a home for a couple months while a new home you are having built is constructed. You may be renting a home for a month while traveling. Or you may be renting a space for a couple months while overseeing a business project. One of the questions that we at Dern & Company, serving the greater Milwaukee, WI area are asked is whether short-term renters should buy renters insurance. Here is our advice.
When you are deciding whether to purchase a renters insurance policy, the first thing to consider is what belongings you are storing in the home. Some people may be renting a space that is completely furnished for them. As such, they may just have a suitcase filled with the clothing that they bring with you. If you don’t have much in the house, you really don’t have anything of value that will get damaged or stolen. As such, you may not really need a renters policy.
On the other hand, if all of your belongings are in the house, regardless of how long they are there for, and/or you have items of value that can be damaged or stolen, it is a good idea to invest in a renters insurance policy. Most renters insurance policies are month-to-month, so you can buy one for a short period of time.
Whether you are looking to buy a policy for the long term or a short-term renters policy in the greater Milwaukee, WI area, Dern & Company would love to help you. Contact us today to get started.