Why you need renter’s insurance

The renting life is the carefree life. Worries about repairs, lawn care and property taxes are primarily left for the landlord. If the apartment goes up in smoke, the landlord is responsible for rebuilding or remodeling.

But wait – where will you go in the meantime? What will you wear? Replacing all of your earthly goods, albeit from even a thrift store, can add up.

Renter’s insurance covers personal property from damage or loss due to fire, vandalism, theft, most (not all) acts of nature, and even plumbing disasters. In addition to personal liability coverage, it can provide living expenses should your apartment become uninhabitable.

The cost of rental insurance depends on where you live, the value you set for your belongings, the deductible, and any additional custom coverage you choose.

If you buy auto and renters insurance with the same company you will likely qualify for a multiple-policy credit. At any rate, it doesn’t cost a penny to get a quote.