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Do I Need Renter Insurance?

Have you recently moved into your first apartment? Or have you finally decided to sell your home and rent in the city? If you are a renter, it is important to consider renter insurance. Many renters believe their personal property is covered under their landlord’s insurance policy, but this is not the case. For instance, if the overenthusiastic chef in the apartment above you starts a building fire, your landlord’s policy will cover damage to the building, but it will not cover your personal belongings damaged in the fire. Your property is valuable, and it is important that it is protected.

In some circumstances, renter insurance can even cover your living expenses if you need to evacuate your home. Take the situation above, for example. If your neighbor burns your apartment building down, your renter policy can provide extra financial support while you look for new housing.    

Renter insurance also protects you in liability lawsuits. If someone slips on your icy driveway or falls down your stairs, you can be held responsible. A renter insurance policy can help keep your personal assets safe when accidents like this happen.

If you’re still not sold on renter insurance, consider theft.  Without insurance, your personal belongings are not covered if they are stolen. Jewelry or electronics such as laptop computers, stereo systems, and televisions may make renter insurance a smart decision.  

Purchasing renter insurance is an affordable way to protect yourself against misfortune. To learn more about renter insurance, contact your Independent Insurance Agent today!