Your landlord has a policy for your building, but do you have renters insurance to protect yourself? Today, only 40 percent of American renters can answer this question affirmatively. Without your own policy, you could lose everything in a fire or other catastrophe.
A landlord’s insurance policy covers a lot, but it stops short of insuring all the possessions you have inside your apartment, such as laptops, televisions and furniture.
It also will not provide liability protection if you are at fault for an injury to another person. As a tenant, you have rights. One of these rights is to add an extra level of insurance protection, which is tailor-made just for renters.
For a few dollars a month, renters policies provide reimbursement for:
The damage of personal property, including electronics and furniture
Medical bills for anyone injured inside your apartment
Living expenses while your apartment is being repaired
Whether you are at work, out having fun or at home during a storm, renters insurance guarantees you have little to worry about. It insures your possessions against many types of unfortunate incidents.