Renters Insurance Protects Your Belongings
People who rent rarely think about insurance. But what happens if a fire destroys your apartment building or rented home? Where does that leave you? Everything you own has been destroyed. Your landlord has no space to offer and you are without a home. Renters insurance exists for this very purpose.
You learn, the hard way, that the landlord who owns your dwelling is not responsible for damages to your personal belongings, regardless of who is at fault. You check your lease and see where this is clearly stated.
Most renters don’t know landlords are not liable or mandated to replace personal belongings. Renters also don’t realize they are financially responsible to damages they cause in their rental. Renters insurance is a safety net against these unforeseen incidents.
You will need to speak with an insurance agent to learn the details of renters insurance. Basic coverage should help in the event of a fire, a flood caused by plumbing problems, theft and vandalism. The insurance should also cover the cost of your personal belongings, and pay for accommodations while you wait to return home. If you accidentally cause major damage to your rental space, such as a fire, this policy will cover the cost of damages for your landlord.