Why do I need a renter’s insurance policy?

A lot of landlords are requiring renter’s insurance policies now, but even if they aren’t—if you rent you absolutely need one of these policies! Here are the top 3 reasons you should never be without renter’s insurance:

  1. Protect your possessions
    • Your landlord’s insurance won’t cover your possessions if there is a fire, theft, vandalism or other unpredictable catastrophe. It’s up to you to cover your own belongings, even if your upstairs neighbor floods their apartment and that destroying your things!
  2. Personal liability
    • This is such an important coverage to have in today’s litigious society. If someone slips on your floor and breaks their arm they could sue you. Who knows how high the lawsuit could get!
  3. Big discount on auto insurance
    • Usually these policies are about $100-$200/year depending on how much coverage you want for contents. It’s always a big discount on the auto insurance and sometimes the discount is more than $200 so the policy pays for itself!

For all these reasons and more: if you rent-make sure you have renter’s insurance!

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