Updated January 1, 1 . AmFam Team
Renting happily ever after may come down to having the right insurance. Did you know your landlord’s insurance only covers your building – not what you actually own?
Renters insurance covers your possessions. The physical rental dwelling is covered by your landlord’s insurance policy. Renters insurance policies cover everything you bring to the apartment, townhouse, condominium or house. This can be bikes, TVs, computers, furniture and anything else you’d take with you when moving.
Peace of mind Is worth every penny. Let’s say the upstairs neighbor’s toilet overflows. Thanks to gravity, that water might end up in your place, damaging wood, leather, electronics or other valuables. Including your sanity. A renters policy will help you repair or replace those items with minimal interruption to your life.
Getting renters insurance is easy. Just like with homeowners insurance, creating a home inventory is a good first step. Secondly, figuring out a rough replacement cost for those items will help you determine the amount of coverage you need. And a quick email or call to your agent (Opens in a new tab)will help seal the deal.
You can even cover living expenses. If your apartment is damaged and you can't live in it while repairs are being made, your policy can be set up to pay hotel costs. There’s even liability protection in case someone else has an accident in your place and gets hurt.
Learning more about renters insurance is a simple way to save you loads of time and money should something happen.