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Renters Insurance for Stay at Home Moms

Jul 31, 2008
Maybe you are a stay at home mom because your husband works for a large company or even the military, and you have to move every two or three years. You might rent for the same reason; it's just not the right time to buy yet! Or you could be recovering from an illness, or trying to get out of debt before you buy a house.

Either way, if you are renter, you need renters insurance. Your landlord will be insuring the house against damage, but they don't have to replace your belongings in case of damage or theft.

Renters insurance is much cheaper than homeowners insurance, so you can afford to be sure you are covered even for lodging in case you have to relocate temporarily for repairs following a flood or fire.

To make certain you are fully covered, keep all your receipts for all of your stuff - not just the high dollar items. Buy a policy that pays for full replacement of your items. Ask and make sure this is the type you get, or you could get stuck with insurance that only covers the depreciated cash value of your stuff!

Sometimes your landlord will require that you purchase renters insurance as part of your lease agreement, and may even offer the chance for you to buy it through them. They can require you to have it, but they can't make you use their carrier, so check out all your options to get the best coverage at the best price!

Renters insurance should cover personal liability as well. You can even get a policy that will cover legal fees if you are sued for an accident occurring in your rented house.

A lot of stay at home moms think they don't need insurance because they don't own much. You'd be surprised; even those families with few belongings could have up to $20,000 or more just in basic household items.

If you are a stay at home mom, you might be trying to run a business out of your home. If so, your computer might be your lifeline. In case of flood or fire your income could depend on being able to replace your tools.

This is where having a policy that guarantees replacement rather than reimbursement is important. Electronics devalue rapidly, and it could be the difference of $100 to cover an outdated computer's value, as opposed to $500 for a brand new one to replace it.

How much does it cost? Again, you will be surprised at just how very inexpensive renter's insurance can be; as low as $20 for some policies, and rarely more than $50 per month. Trade the daily dose of Starbucks for peace of mind!

You are sure to agree that in case of a natural disaster or a smash and grab robbery, you would rather be sitting in a hotel room planning a shopping expedition rather than huddled in a shelter trying to figure out your next move! Renter's insurance is for that very type of situation.
About the Author
Rayven Perkins has been a stay at home mom, surviving on one income, for over 8 years. Visit her site Renters Insurance for SAHMs for more important information about renters insurance policies and ways to reduce your expenses.
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