If you own a home, you make sure to cover yourself with home owners insurance so why not make sure to have yourself covered if you rent a place?
Renters insurance covers all of your belongings in your apartment. From your TV to your clothes, if you have renters insurance, then your possessions are covered. Renters insurance does not cover the actual building you live in like home insurance does. That is because the owner of the building has to buy a separate insurance policy to cover their property. They are not responsible for covering your personal items such as your couches and lamps. If there is a fire and you do not have renters insurance, you will be stuck between a rock and a hard place. The coverage your landlord has does not cover any of your personal belongings and you will be responsible to buying everything over again.
Since apartments are usually housing multiple people, it is wise to get renters insurance. You cannot control what other people are doing in their apartments and if their apartment catches fire, you may end up having your catch fire as well. So be sure to get renters insurance to make sure all of your belongings are covered.
Just Because You Signed A Lease Doesn’t Make You Covered
Many people believe that renters insurance is included when you sign a lease. Unfortunately this is not accurate. Landlords do have home insurance but that only covers the actually structure of the house. It does not cover any of the renters belongings. If you rent a home you are responsible for your own belongings should there be a fire or a tree that breaks through your roof.
One of the main reasons people get renters insurance is due to the need to protect yourself from robberies. If your home is broken into you can actually get your belongings covered by your insurance company. This will prevent you from having to spend thousands of dollars to buy a new wardrobe and electronics.