Renters Insurance Basics

Renters insurance is smart protection for anyone who doesn’t own their own home. In fact, renters policies have become increasingly common over the last few years due to an increase in the number of rented units nationwide. This is a good thing, because more competition for your business can bring premiums down, making renters insurance more affordable.

Here are a few of the most important things a renters insurance policy covers:

1. Your belongings.
2. Damages that you or others cause to the property, including injuries that occur on site.
3. Personal liability expenses.
4. Additional living expenses if your rental becomes unlivable due to issues like a fire or explosion in your apartment.
5. Legal expenses if you are sued over damages or injuries that were not your fault, which can include damage caused by a guest or family member.

Remember: even though landlords typically require tenants to carry renters insurance, you can’t always assume that their property will be insured against loss or damage. It’s up to you to make sure your belongings are safe in the event of a natural disaster or other unexpected incident.

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