Renters Insurance
If you rent a house or an apartment, your landlord’s insurance only covers the cost to repair the building if there is a fire or other disaster. Your property losses, as well as your liability risks, are not covered. And your landlord’s insurance will not be there for you in the event of a theft, either. Clothing, electronics, jewelry and other valuables are the types of items most frequently listed on renter’s loss claims.
As a renter, you need your own renter’s insurance policy to protect yourself and your personal property.
Loss assessment coverage: You’re covered when the landlord’s insurance policy doesn’t cover the total cost of damage or when a lawsuit is brought against the landlord.
Personal property coverage: Protect your contents against loss, both on and off the premises.
Valuable articles coverage: Get coverage for loss or theft of jewelry, art and other valuable items.
Liability coverage: Protect yourself against costly liability lawsuits arising from such occurrences as accidental water damage to a neighbor’s unit or someone slipping and falling in your apartment.
Comprehensive personal liability coverage: This provides important protection if you or your family are sued.