Everyone knows that home insurance is important, but many Americans who rent instead of owning their own home overlook the value of renter’s insurance. You may not think you need insurance because you don’t own the property you live on, but you should still invest in renter’s insurance for a variety of reasons.
Protect Your Items – Sure, your landlord is responsible if the plumbing in your apartment breaks, and for various other maintenance tasks. However, your landlord will not replace your things if you apartment floods and your stuff is ruined. Having insurance for your belongings, like your TV, your appliances, and your furniture is a smart investment. If you get robbed, or your property is damaged in some other way, having renter’s insurance can help you replace your items without breaking your wallet.
Protect Your Visitors – If someone injures themselves in your apartment or on any other part of the premises, you may be held liable. If your pet bites someone, or your friend slips on the ice outside, you do not want to be on the hook for their medical and legal bills. Renter’s insurance can help you cover the damages.