Renters insurance is protection for your stuff. If your apartment burns down or
your laptop is stolen, your renters insurance policy will cover it.
Why do I need renters insurance?
Many people are under the impression that, if they rent, their landlord's insurance
will cover the tenant's losses. Unfortunately for the tenants, this is not the case. Your
landlord likely has insurance, but it will only cover the landlord's losses; therefore,
you need renters insurance to cover your stuff. Additionally, if you're found liable
for damage to the premises, your renters insurance pays for that too. One example--say
you forget to blow out the scented candle in
the living room and it causes a fire that burns down the apartment. Your renters
insurance will help pay for the loss so that you don’t pay directly out your own
Is renters insurance expensive?
No. Renters insurance is one of the most affordable types of insurance. Most people
can buy renters insurance for less than $20 a month. A lot of people have said it's
worth being able to replace all their stuff for what it would cost to buy a pizza.