A Guide to Renters Insurance..........
Part 1

Most people who own their homes carry – in fact, are often required by their banks or mortgage companies to carry – Homeowners Insurance to protect their property, their possessions and any injury incurred by visitors. But what about people like you  who are renting their living space? Renters Insurance protects against loss or damage to your personal belongings when you occupy a rental property – anything from a studio apartment to an entire house or mobile home. Renter’s insurance can also provide liability protection for you in the event someone else is injured on that property. This could be a newspaper boy or even a contractor you hired for a job.

Even if you're just starting out, or living in a place for a year, getting a renter's insurance policy –is probably a lot less expensive than you would think and one of the easiest-to-obtain insurance coverages you'll ever own. Renters Insurance is a smart decision especially if you just started a life on your own and you are buying your new furniture and clothes. A fire loss could financially ruin you. You may not think you've got anything of great value, but you probably do – more than you could comfortably afford to replace in the event of a bad burglary or a fire.

In addition, no matter how careful you may be with your own apartment (the sort of residence most renters have), you can't control your neighbors. They can leave your security gates open, buzz ill-intentioned strangers into your building, or fall asleep with a cigarette in hand and start a serious fire. While your landlord's insurance may cover the building itself, that insurance will not cover the contents of your apartment, nor someone suing for damages if they had an accident within your apartment or rented space. In fact, many landlords are increasingly requiring tenants to carry renter's insurance.

Next Time
A Guide to Renters Insurance
Part 2 ,  What does Renters Insurance Actually Cover?

Posted 12:00 PM

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