Job Loss Insurance For Renters
Save Your Home With Job Loss Insurance
In today’s not-so-thriving economy, job loss insurance is a hot commodity as the U.S. reaches its record-breaking unemployment rate of 9.6 percent in August, according to the Bureau of Labor Statistics. In the job market, many fields lack a strong sense of job security. This is particularly a financial pain for renters of homes, apartments, and condos. If a renter loses their job, are there no options available to them? Are they simply doomed to not make rent and eventually be kicked out of their home (typically sooner rather than later), with no place to go? Protect yourself today with a job loss protection insurance quote for renters. 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. 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. To see how job loss insurance will affect your current monthly premiums, obtain multiple renters insurance quotes.
Benefits of Job Loss Insurance
- It’s affordable. You can get job loss insurance coverage on your renters insurance policy for as little as an additional $6 a month.
- Coverage benefits. Benefits will widely vary depending on your individual situation and policy. But typically, benefits you can receive from a job loss insurance rider will include funding to be used toward monthly expenses, like rent (for a limited amount of months), utility bills, or phone bills.
- A roof over your head while you’re on the job hunt. With the help of job loss insurance, you can continue to look for employment and know that, because of that coverage, you have still provided for your household, even if you’re still looking for employment.
- Peace of mind. If the worst happens, and you do lose your job, you won’t have to worry about making ends meet and getting kicked out on the streets by your landlord (at least not for now). Job loss insurance provides policyholders with the peace of mind that, even if they lose their income, they don’t have to lose their home.
What Does Job Loss Insurance Costs Depend On?
- The chances of you losing your job
- Your cost of living
- Mortgage payments
- The Recession
- Your unemployment period