Renters Insurance Covers Your Personal Belongings
If you rent a home or apartment, chances are your personal belongings are not covered by the landlord’s insurance. Renters insurance covers damaged, lost or stolen personal belongings for people who rent instead of own their living space. There is also coverage for injuries that may occur in your apartment or rental home and result in a lawsuit. If someone is injured and decides to file a case against you, then renters insurance will help with expenses.
Without this coverage, renters will receive no help replacing or repairing their personal belongings. This coverage provides financial assistance for damaged or lost belongings of a tenant as a result of vandalism, theft, or fire. It will also cover liability in case a visitor is injured in your home or apartment. You might also have access to reimbursement for living arrangements in case your space is temporarily uninhabitable.
This coverage is not required by law, but it is a good way to cover your possessions. In some cases, the landlord will include this coverage as part of the lease. But before purchasing a policy, you need to know the value of your possessions. This information is then used to decide how much coverage you need.
Your best bet is to contact your landlord and ask if renters insurance is part of your lease. If it is not, then contact an insurance agent for more information.