If you are a renter, it is critically important that you have renters insurance to protect you in the event of a theft or fire. Unfortunately, renters insurance does not receive the attention that it deserves! Your landlord’s insurance does not insure your belongings, should an unfortunate incident occur. It covers the property only. Some people mistakenly believe that renters insurance is expensive; however, it’s no more than $30 a month and often cheaper if you shop around. Renters insurance will cover all of your personal property, medical bills, personal liability, and temporary living expenses. Certainly, the level of protection and peace of mind renters insurance will give you is worth the cost.
- Renters insurance is not really considered important due to the misconceptions going on about it and many people don’t really understand what it is.
- One of the myth people have about renters insurance is that their landlord will insure their belongings. Far from it because the landlord only insures his building.
- If your roommate has renters insurance it will not cover your belongings as well. It will only extend to the belongings your roommate owns.
“It can help you get back on your feet if your belongings get stolen or destroyed in the event of a fire or other unexpected circumstance.”