Renters' Insurance

Even though you don't own your own home you have personal property that can be lost to fires, burglaries and even lawsuits.

While most homeowners are insured for these risks, many renters are not. It is not a requirement for renters to buy insurance to protect their personal property, and as a result, several do not.

The first time most people think about property insurance is with their first home, since it is required by the mortgage company. Although renter's insurance is usually not required, it is just as necessary to have. Not only will it protect your personal items, but it will also help with temporary housing and liability protection. Medical expenses for people on your property or a lawyer if you are sued by someone unintentionally injured by you are included under this.

If the ceiling in your aparmtent is damaged by a storm, the ceiling is covered by your landlord. You may not have the funds to replace an appliance damaged as a result ofthe storm or the finances needed to relocate to a temporary residence -things of this nature are where the renters insurance policy is beneficial.

Renters insurance can help you pay for repairing or replacing personal property that has befallen misfortune - this can include damage, destruction or theft. It may also cover most lawsuits or claims against you if you are responsible for injuring others or damaging their property.