Renter's insurance
(Information taken from a renters' policy brochure provided by State Farm Insurance):
When you rent, you make a big investment in furniture, electronic equipment, personal belongings and all the other things that help make your apartment or your house a home. Renter's insurance can provide protection for your personal property and your personal liability.
Common myths about renter's insurance
"Renter's insurance is too expensive."For just pocket change a day, renter's insurance can provide affordable basic protection of your personal property and can protect you in case of a liability lawsuit.
"I don't own very much."
Most people's belongings are worth more than they expect. Renter's insurance can cover your personal property for loss caused by fire, theft, vandalism, sudden and accidental discharge of water from plumbing or appliances, and freezing of plumbing systems, to name a few.
"I think my landlord's insurance covers me."
Your landlord's insurance only covers the dwelling — not your personal belongings and your liability.
"I don't need liability insurance."
Your landlord's policy excludes liability for something that occurs in your rented residence. You could be held responsible for injury to another person or damage to another person's property if an incident occurred within your rented residence or elsewhere. Without liability coverage, your current and future earnings could be at risk. Renter's insurance may also provide legal defense costs.
