If you’re a renter you can’t assume that your landlord’s insurance will cover your property if the place is robbed, flooded or burned. In fact you can pretty much count that situation out. So to protect yourself and your property you’ll need a renter?s insurance policy.
Renter’s insurance should really be required for all renters as its really quite inexpensive, most likely provides you with the only coverage you’ll have for your valuables, and damage to a shared property may be caused by someone else so it is a good way to hedge your bets.
Basic renter’s insurance covers any loss or damage to your personal property, family liability protection in the case of legal disputes, guest medical protection for anyone injured at your home, and additional living expenses if you’re forced out of your home due to a catastrophe.
Check with your insurance agent to see what sort of coverage they recommend for you and remember you can up the bill a bit by getting replacement coverage which will cover the full purchase price of your lost items and you could add high value item coverage for items not typically covered under insurance, like expensive jewelry or work valuables.