Find renter’s insurance in your area.
Why do you need renter’s insurance?
Whether your landlord is requiring renter’s insurance or life is (because pipes do break and lightning could skip through your open window and start a fire) we can get you covered.
As you might guess from the name, renter’s insurance is insurance for renters. It’s a policy that primarily protects the value of your stuff. But it can also help offset medical costs if someone gets hurt while at your place. It may even cover some legal liability in that case.
Insurance can’t prevent your stuff from getting lost or stolen, of course. But it can help offset the cost of replacing that stuff when disaster strikes.
Isn’t the property covered by your landlord?
Yes and no. If a tree crashes through the roof of the building, that’s your landlord’s problem. But your landlord’s policy only covers the structure. If that tree smashes through your bedroom and destroys your furniture and clothing, that’s up to you to replace.
That’s where renter’s insurance comes in.
It’s a policy that can cover things like:
- Personal property (the things you actually own)
- Theft or damage from natural disasters
- Medical bills for people who get hurt in your space
- Legal payouts if someone sues you for getting hurt
Renter’s insurance typically isn’t expensive, either.
A typical policy might set you back $15 to $30 a month, maybe more or less depending on what you need and where you are.
And while renter’s insurance isn’t required by law, it might be required where you live. Landlords can require it as a condition of your lease.
From natural problems, like an errant lightning bolt, to cooking mishaps in the kitchen to nefarious characters making off with your entertainment system, plenty of unexpected things can happen in life. As a renter, you need a policy that can help you recoup those losses.