Renters

Even though you don’t own the house, apartment, or condo it is important to make sure that you have renters insurance. Renters insurance protects the things you own from fire, theft, water damage, and the other unexpected things life throws your way. Renters insurance is cheaper than homeowners insurance but it provides some similar coverages. 

• Contents – This refers to all of the stuff you own in the apartment. Things such as electronics, appliances, furniture, and clothing. The amount of coverage is chosen by you, so the more stuff you have you will want to talk to your agent about a higher amount. If you are just starting out you may be able to save some money by keeping this coverage lower
• Liability – Like a homeowner’s policy this covers you from financial risk if you are found negligent or legally responsible for another person’s injuries or damages while on your property. It also covers you, if you were to accidentally damage to someone else’s property  
• Extra Expenses – If you are not able to live in your rented space because of a covered loss (fire, windstorm, water damage, etc..) your renter’s policy helps cover the unexpected living expenses such as a hotel, or meals at a restaurant

Renters insurance is cheap and usually less than $15 a month. Even if your landlord does not require renters insurance we highly recommend you consider buying a policy.