If you rent, you might not think you need renters insurance. After all, isn’t it your landlord's responsibility to fix the building if something bad happens. True, however your personal belongings that might be damaged or stolen will not be covered by a landlord’s dwelling insurance.
What exactly is renters insurance? Simply renters insurance is an insurance policy that protects your personal property against damage or loss. It also protects you in a case of a guest being injured while at your property.
Renters insurance policies provide coverage on personal property and liability. Personal property coverage protects your belongings if damaged or stolen. While the liability coverage protects you from a lawsuit resulting from injury to a guest while on the policyholder’s property.
If you rent a home or apartment, the important thing to remember is your landlord carries insurance only on their building. It’s up to you to protect your stuff by purchasing a renters policy. Depending on the amount of coverage you desire I’ve found most renters policies run between $15-$30 per month. In most cases purchasing a renters policy with the same company you have your auto insurance through will give you a multipolicy discount decreasing the out of pocket expense to you.
If you have any questions about a renters policy or any other Insurance related questions please feel free to contact me for a review.
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