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Saving for a house while renting? Make sure you have renters' insurance

A recent article in the Washington Post states that America's millennials under 35 are struggling to save enough for a down payment to purchase their first home. Despite wanting to purchase a home, most millennials are burdened with student debt and forced to delay home ownership until they can save enough to eventually buy. So, what should you do while saving for that first home?

  • Rent and make sure you have renters' insurance to protect you and your stuff! If you plan to rent for a while, or at least a short time, you need renters' insurance in case of loss or damage to your personal possessions.
  • Bundle your insurance to save money. If you purchase a renters' policy, you could qualify for big discounts on your car insurance if you bundle them together.

Call Lakeside Insurance Brokers - our agents in Burnsville and Chanhassen can find you the best coverage and rate anywhere you rent in the Twin Cities. Our companies can get you a renters' insurance policy at a price you can afford so that you can save for that first home.

And, when you purchase your first home, we can help you with your homeowners insurance.


>>>> Original article reprinted in Star Tribune: http://www.startribune.com/missing-ingredient-for-...