This is a common misconception many renters have. A landlord’s insurance usually only covers damage to the building — not any damage caused to your belongings. For example, if there is a fire, the landlord’s insurance covers the damage to the building caused by the fire, but any damage to your belongings caused by the fire is not their responsibility. That’s where your renters insurance steps in.
Another common scenario is water damage. If there is a water leak that ruins your favorite rug and damages the wood underneath it, your landlord will replace the wooden floor, but not the rug.
And, personal property isn’t the only thing not covered by your landlord. If your apartment catches fire & you damage surrounding apartments, your landlord could potentially seek legal action against you. Personal liability coverage, which is included within your renters policy, could help protect you against any damages resulting from legal action.
So, let’s clear up this snafu once and for all: it’s your landlord’s responsibility to protect the building, and it’s your responsibility to protect your personal property and damages you’re liable for — which is what renters insurance is for!