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Renters insurance coming back to protect IT professionals and freelancers

Renters insurance is a must, as it will primarily save you from potential financial ruin.

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Image: Builder Magazine

One of the benefits of being a freelancer or an IT professional is that you have the option of working from home. There’s no need to commute, and with the somewhat flexible working hours, there’s greater freedom.

However, one of the drawbacks of being a freelancer or an IT professional is that you’re responsible for all your equipment. If something happens to it, if it gets stolen, damaged in an accident, etc., it’s all up to you to replace it.

With renters insurance, on the other hand, you can rest easy knowing you’ll be protected in case of an accident. Let’s take a look at why renters insurance is a must-have today.

Expensive IT Equipment Comes with the Job

You can’t be a great IT professional unless you have the right equipment for the job. Most people spend thousands upon thousands of dollars on all the hardware and software that’s essential for their career. Building a home office with all the right equipment is neither cheap nor easy.

Most freelancers encounter the same problem. Depending on the type of work they’re in, they could be spending inordinate amounts of money on all the tech and items they need on a daily basis.

This is one of the biggest problems that freelancers encounter. As opposed to working in a company, where someone else provides all the equipment, the money for all the needed items comes out of their own pockets.

And what if something happens to the equipment? What if your apartment gets burglarized, or damaged in a fire? There’s no one to cover you and help you get back on your feet. This is why it’s always better to be safe than sorry and invest in renters insurance.

IT Professionals and Freelancers Move a Lot

Today, IT professionals and freelancers can luckily afford to become digital nomads. As long as they have an internet connection and their equipment, they could be traveling around the world and earning money on their way.

Many have taken up that offer, and like moving around the city every now and then, living in different states, etc. Constantly moving from one rented unit to another, however, increases your chances of encountering unpleasant situations and experiencing various accidents.

This isn’t to discourage you from moving around, as it’s very exciting and beneficial. But you have to keep in mind the safety of all the equipment needed for the job that allows you to enjoy such a lifestyle.

When you apply for renters insurance, it will make your life easier and your things safer. If you’re wondering does renters insurance cover mold, water damage, fire, etc., at your new location, don’t be worried. When you move, your renter’s insurance moves with you.

Renters Insurance Protects Them Wherever They Go

There are many myths, misconceptions, and uncertainties about renters insurance. Primarily, people are afraid and uncertain about what happens when they move to a newly rented apartment. Does the insurance cover my things at the new place? Does it cover my things in transit?

Usually, you shouldn’t be worried about this. Typical renters insurance policies cover you wherever you go in the United States. Most policies will cover you for about 30 days from when you begin moving, and it’s best to let your insurance agent know about the move.

Most companies cover your things while they’re in transit as well, but you will have to check with your specific insurance company to know for sure.

There are a few things to keep in mind, though, when you move to a new apartment. Your insurance rates often depend on your location. Urban areas where burglaries of thefts are common will have higher insurance rates than the more peaceful suburban communities. Consult with your agent about any possible changes in your insurance rates.

Equipment Isn’t Only Susceptible to Theft

Most IT professionals and freelancers are worried primarily about burglary and theft of their equipment. While the risk of burglary is higher for rented properties, it’s not the only (nor the worst) thing that could happen.

Fires, accidental flooding, hail, smoke, vandalism, these are all very serious, and unfortunately very common occurrences.

A renters insurance will have you covered in the event of any of the mentioned perils. You’ll be able to get back on your feet and replace the lost equipment in no time.

In case the property is damaged and uninhabitable, your renter’s insurance will also cover the costs of temporary living expenses until your apartment is repaired.

A Way to Protect the Things You Own

Most would pride themselves on how non-materialistic they are, and that’s great. There are many more important things in the world than material possessions. However, we all depend on our material possessions to survive.

The equipment used by IT professionals and freelancers is their bread and butter, and it can spell disaster if something were to happen to it. Renters insurance is a must, as it will primarily save you from potential financial ruin, and give you peace of mind knowing you’re covered in an event of a disaster.

Have any thoughts on this? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.

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Chris has been blogging since the early days of the internet. He primarily focuses on topics related to tech, business, marketing, and pretty much anything else that revolves around tech. When he's not writing, you can find him noodling around on a guitar or cooking up a mean storm for friends and family.

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