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. No one requires renters to buy
insurance to protect their personal property, so many do not.
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,
such as medical expenses for people on your property or a lawyer if you are sued
by someone unintentionally injured by you.
If the ceiling
in your apartment is damaged by a storm, the ceiling is covered by your landlord.
But what about your brand new stereo and TV that was damaged? Also, while the
ceiling is being fixed, do you have enough money to immediately find another place
to stay? These are the types of things that would be covered by your renters insurance
Renters insurance can help you pay for repairing
or replacing personal property that is damaged, destroyed or stolen. It may also
cover most lawsuits or claims against you if you are responsible for injuring
others or damaging their property.