Murphy’s law is simple. If it can go wrong, it will go wrong. When it comes to military life, it always seems to be the case. Whether it is the upstairs sink that overflows and causes water damage, or the smoke from a fire in another apartment, your property, belongings, and personal health may be affected. That is why it is so important to consider renter’s insurance while in the military.
Each policy will have slight variances and different companies offer varying packages. The simple answer though is that renter’s insurance helps to cover personal property and liability coverage which could mean the difference between breaking the bank and paying a small deductible.
When someone joins the military, they are often leaving home for the first time. This means that many of their issues were covered through their family and, while they lived in a home, they likely had property and liability insurance through their parent’s home owners’ insurance. As they became service members though, they left home and moved into the barracks or began the seemingly constant process of moving from one duty station to the next. In many cases, once they married, service members elected to move off base and rent apartments to meet their needs.
This is where renter’s insurance comes into play. The insurance acts as a barrier to protect the service member from the unexpected. Through minimal monthly payments, the insurance covers a variety of issues. When a guest comes into the apartment, trips and breaks their leg, you as the renter may be held liable. In this case, the renter’s insurance works as a liability insurance to offset the financial costs should you be sued.
In the other examples, if damage is caused to personal belongings through fire, water, earthquake, or theft, those items can be covered through the personal property coverage of the insurance. In many cases, this can result in repair or replacement costs to help make one’s life whole again.
Service members can even find benefits to this insurance while living on base, as it provides the same coverage in this setting. Although there are some military rules which are specific to coverage and loss within a military installation, the service member is almost always better off having some form of insurance.
The most important thing to determine what level of insurance is right for you is to maintain receipts of high dollar item equipment. Scan or upload these receipts to keep them safe, and perform an assessment on the total property to ensure that there is an accurate estimate for the total dollar value of the property owned. Then contact your insurance company to provide insurance for at least that dollar amount.
As time goes, you may find that you pick up new and better quality household goods. Ensure that you update your insurance numbers to identify these updates and make sure that you are always protected. At the end of the day, it is just another tool to help you and your family ensure that you are covered when murphy strikes.
Disclaimer: The content in this article is the opinion of the writer and does not necessarily reflect the policies or opinions of US Patriot Tactical.