The Benefits of Renters Insurance

Renters insurance is recommended for anyone who rents an apartment or house. Most renters never consider that they need insurance for their belongings. They think it’s an unnecessary expense. But the truth is the expense is worth it because your landlord’s insurance will not cover your belongings. If you are robbed or experience a fire, then you are responsible for your belongings.

Beneficial for Renters

Do you rent an apartment or house? If so, you should consider coverage. What you own and its value doesn’t really matter. As long as it’s something of value to you, then coverage is worth it.


Renters insurance reimburses you for lost or damaged possessions due to fire, theft or vandalism. Liability is included as well, in case a visitor is injured on the premises. Your landlord probably has liability insurance, but depending on the circumstances, you might be legally responsible for the mishap. The amount of compensation you can receive depends on your coverage. The more coverage you have, the more expensive the policy.

Is it Really Necessary?

Can you afford to pay out of pocket expenses in case of theft or a fire? If so, then maybe this coverage isn’t for you. But most people can’t pay out-of-pocket to replace their belongings after a theft or fire. And remember, the coverage includes liability as well. That would come in handy should you get sued because of someone’s injuries.

It is recommended that anyone who rents their residence should have renters insurance. It may even be required by your lease, but if not, it’s important for your own peace of mind.