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8 Reasons to Get Renters Insurance After You Move Out of Your Parents’ Place

relaxed young woman in her couch with feet up

Moving out of your parents’ home can be an exciting time, but it can also be a scary time. After all, with all that new independence comes responsibility.

One thing to keep in mind as you move into your new home is that you’ll no longer be covered by your parents’ homeowners insurance, which protects your property if it’s lost or stolen. Instead, you’ll need renters insurance to protect your belongings.

But after paying a security deposit, first month’s rent, and all the other moving expenses, why add the extra expense of renters insurance? The truth is that renters insurance is worth it. Here are eight reasons to get renters insurance after you move out of your parents’ place.

1. You’re No Longer Covered by Your Parents’ Insurance

Unlike health insurance, once you move out of your parents’ home, you’re no longer covered by their homeowners or renters insurance policy. This is true even if you’re still claimed as a dependent or are under 26. When you get your own apartment, you’ll need your own renters insurance to go with it.

2. Renters Insurance Costs Less Than You Think

Did you know that the average cost of renters insurance in Louisiana is just $160 per year? Even the average cost of renters insurance in Alabama, $346 per year, is much less than what you would pay for car insurance in these states.

And if you can’t pay everything up front, no problem. Most renters insurance companies offer partial payment plans, just like with auto insurance. Another way to save money is to consider bundling your insurance policies and pay a single, lower premium.

3. Your Property Costs More Than You Think

Insurance is all about weighing benefits with costs. When it comes to renters insurance, the big question you need to ask yourself is: Am I ready to pay to replace and repair everything I own if my things are damaged or stolen?

Most people underestimate the value of their property. Don’t make that mistake. Think about the costs of replacing some key items that most people keep in their rental home:

  • Computer
  • Phone
  • Tablet
  • Home office equipment
  • Professional equipment (musical instruments, uniforms, work tools, etc.)
  • Bed (including mattress)
  • Sofa
  • TV set
  • Washer and dryer
  • Clothes and shoes
  • Legal documents (birth certificates, marriage certificates, etc.)

Now imagine that you suddenly had to replace everything at once. Could you really afford to do that? If not, then you need renters insurance.

4. Renters Insurance Covers Damage to Your Landlord’s Property

If you’re responsible for damaging your landlord’s property — for example, from a kitchen fire that damages the walls — then you’re liable to pay for the repairs. Luckily, renters insurance policies include liability coverage. Like auto liability coverage, renters insurance liability covers repairs when the damage is your fault. Coverage also includes damages to other parts of the property, such as if you accidentally damage the main hallway while moving furniture.

5. Renters Insurance Covers Medical Bills

Smiling young man sitting on floor and looking for renters insurance

Renters insurance liability covers more than just property damage. If someone visits your rental home and is injured — for example, from slipping on a wet floor — then your visitor or the visitor’s health insurance company can sue you in court for the associated medical bills. Renters liability insurance covers your legal costs along with the medical bills if you’re found to be at fault.

6. Renters Insurance Protects Your Property When There’s a Storm

Storms and hurricanes are no joke in Louisiana and Alabama. And they’re completely out of your control, which means your apartment and property can be at risk at any time. Damage from wind, leaking windows and roofs, flooding, fire, and electrical surges are just a few ways that your property can be damaged during and after a storm, hurricane, or tornado.

7. Renters Insurance Covers Things Outside of Your Home

If someone steals your car, then comprehensive insurance will compensate you, but what about when someone steals something inside your car, like a laptop or GPS device? You might be surprised to find that renters insurance actually protects your property from theft even when the theft happens outside the home, such as when you’re traveling.

Renters insurance also covers your property when it’s stolen from your storage unit or damaged in a moving truck.

8. Your Landlord May Require It

Unlike auto liability insurance, there’s no legal requirement to have renters insurance in Alabama or Louisiana. But that doesn’t mean your landlord can’t require you to have an active renters insurance policy as part of your lease agreement.

Of course, one option is to refuse to sign the lease and look for another apartment. But the truth is that most landlords ask for renters insurance. It protects them if there’s an accident later on and your possessions are damaged.

And remember always to keep your renters insurance policy active. If your landlord finds out that your renters insurance policy has lapsed, it could be grounds for terminating the lease.

Get Affordable Louisiana and Alabama Renters Insurance

As you move out of your parents’ place and start your independent life in your new apartment, getting renters insurance is the responsible thing to do. But that doesn’t mean you should pay more than you have to for renters insurance. That’s why renters turn to USAgencies for affordable Alabama and Louisiana renters insurance that gives them peace of mind. All it takes is a few minutes to get started with a renters insurance online quote. Or you can speak to someone directly by visiting one of our offices or calling us at (800) 420-3712.