Renters Buy Job Loss Insurance, Avoid Eviction

A recent InsuranceAgents.com article seeks to educate renters about job loss insurance before it is too late. End Quote

There are several benefits to adding a job loss rider to a renters insurance policy.

Chicago, IL (1888PressRelease) October 09, 2009 - With the U.S. unemployment rate practically sky-high, almost no one is safe from job loss. And losing one’s job is more than just losing their income; it also means facing bankruptcy, foreclosure, unmet bills, and even eviction. For renters of homes, apartments, or condos, not being able to make rent is a horrifying notion that can end with the renter (and all of their belongings) being kicked to the curb.

The first step, the new article says, that renters have to make is taking responsibility: only responsible renters who invest in sufficient renters insurance (along with job loss coverage) will be able to sleep soundly at night, knowing that no matter what the job market of tomorrow holds, they’ve taken the necessary steps to hold on to their residence.

“For renters responsible enough to invest in renters insurance to financially protect their possessions and liability, they may be able to buy job loss insurance,” the InsuranceAgents.com article states. “Job loss insurance is a rider that renters can add to their renters insurance policy, that provides them with some financial assistance so they won’t have to miss their rent payments and lose their home.”

There are several benefits to adding a job loss rider to a renters insurance policy, including:

1. It’s affordability. Job loss coverage can be obtained from as little as $6 a month.
2. Coverage benefits include funding for monthly expenses, like rent, utility bills or phone bills.
3. Guaranteeing a roof over the renter’s head while s/he continues to search for another job.
4. The renter has peace of mind, knowing that whether or not they lose their job, they won’t have to worry about making ends meet all on their own.

Some people have more job security than others, which is why job loss insurance may not be for everybody. So before renters fall victim to mass hysteria and run off to buy heaps of job loss coverage, they should first consider whether they need it, based on several factors: What are the chances they will lose their job? What is their cost of living? How high is their rent? How does the current recession affect their financial situation? Knowing the answers to these questions will help renters determine how much job loss coverage (if any) they may need if they ever lose their current job position.

Losing one’s job is hard enough without the added stress and pressure of trying to hold on to a home. Renters should talk to their renters insurance agent, and visit InsuranceAgents.com to learn more information about job loss coverage and renters insurance.

Also, go to InsuranceAgents.com to receive renters insurance quotes from up to five local agents.

http://www.insuranceagents.com/job-loss-renters.html

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