Renters Insurance

Many people don't realize they need insurance protection even if they don't own a home. The fact is that everyone who owns or rents residential property should have homeowners insurance.

Renters insurance is like a traditional homeowner's policy except that it doesn't cover the structure in which you live. Did you know that if your apartment building or rental home is destroyed, for any reason, your landlord is not responsible for your personal belongings? Moreover, if someone is injured while visiting your residence you may be held responsible for their injuries. A renter's policy is an inexpensive way to insure your personal belongings if your apartment or rental home is damaged. It may also insure you against a lawsuit stemming from an incident occurring in your place of residence. For example if the ceiling in your apartment is damaged by a storm, the ceiling is covered by your landlord, but what about your brand new stereo and TV that was damaged? Also, while the ceiling is being fixed, do you have enough money to immediately find another place to stay? These are the types of things that would be covered by your renter's insurance policy.

While you may not own your residence, you probably own a very significant amount of clothing and other personal property that would need to be replaced in the event of a disaster. A renter's policy is an inexpensive way of preventing such a loss.