You can get Renters Insurance for as little as $10 a month, maybe even under $5! Many times it can be even cheaper when coupled with your auto insurance. If you’re renting, and there’s a fire, or something as simple as the roof leaks, your belongings will not be replaced by the landlord.
Renters Insurance is a good idea, to protect your belongings and your liability, and for the price, it’s a no-brainer. Renters insurance is cheap. It’s also easy to compare Renters Insurance policies online, so that you can get the best possible policy, for the lowest price.
Your landlord will not replace your belongings.
The insurance policy your landlord has covers the house or apartment structure, and also their liability, but it does not cover your belongings. Most renters assume if something happens to their belongings, the landlord will be liable. But they are not. Here’s a hypothetical example. Your ceiling starts to drip water, you call your landlord to let them know. A few hours later there’s a massive amount of water coming through your ceiling because the bottom of the water heater in the apartment above you gave out. Your flat screen and your beautiful new laptop are fried. All your furniture is soaked. The drywall on the ceiling also caved in in your bedroom. Your clothes and bed are full of water, drywall dust, insulation, and debris. Your bed and clothes are ruined. You are obviously upset. You let your landlord know they will be paying for everything. They politely let you know you should have renters insurance, and that accidents happen, it is not their obligation to cover your personal belongings.
Imagine if there is a fire or tornado and all your stuff is gone. How much would it take to buy a new TV, laptop, phone, and all the stuff for your kitchen, all new clothes, your furniture, bed, and everything else you own. It would be extremely expensive, but if you have renters insurance, you get a big fat check to buy all new stuff, and your disaster doesn’t turn out so bad.
Don’t put yourself in a situation where you lose everything and can’t get it back. It makes sense to protect yourself. For as little as about $10 per month, you can make sure all your belongings are replaced if they are destroyed or if they’re stolen. Typically you can find cheap Renters Insurance with good coverage online, by getting a quote and comparing the rates of multiple companies.
Not only will you be insuring your belongings, Renters Insurance also protects you from lawsuits with liability protection. If someone is injured in your home, and they sue and win, you may have to pay out of your own pocket, but if you have Renters Insurance, you will be covered, and the insurance company would take care of it.
If you don’t have Renters Insurance, you should get it. Look into it anyway. It can’t hurt to get a quote and do some comparison shopping.