If you live in a Rental Property, be it an apartment, a condo, or a house, Renter's Insurance is a very important thing to have. If you're currently without it, you'll want to get informed, and seriously consider getting it.
Renters Insurance or Tenant Insurance protects you in a lot of situations. It's definitely in your best interest to have it. If you think you're covered by your landlord's insurance if something goes wrong at your place, you are wrong.
There are so many scenarios where having Renters Insurance could save you from financial ruin. The most obvious, of course, is that your belongings will be covered in case of theft, damage or destruction. Most of us could not afford to replace a whole bunch of our possessions all at once, if we needed to. You may say that you don't have much, and your furniture is old, etc, but if you added up the value of all your clothes, your electronics, furniture, dishes, CD's, computer, and everything else you own, the value would be considerable. You would need help to replace all of these things should anything happen.
The next very important reason you need Renter's Insurance is in the case of your own liability. If you cause damage to the Rental Property, or if someone gets hurt at your place, you're financially responsible. You could be in some serious financial difficulty way beyond your means.
So, if you have a grease fire from cooking, for example, in your apartment, you would be liable for any damages to your own unit, as well as for any damages to other apartment units. Or perhaps you have kids, and they cause the toilet or bathtub to overflow, and cause serious water damage, you would be responsible for those damages. Perhaps you have a party, and your guests get way out of hand, and break a large window. Or a furniture delivery person falls on your stairs, gets hurt, and decides to sue you. There are countless scenarios. Your damage deposit wouldn't even come close to paying for these types of situations, so you'd better have insurance protection.
Depending on your Renter's Insurance Plan there are some other great benefits that could be available to you. Most Renter's Insurance plans cover your personal property, even when it's not in your house. So your personal property is covered when you're moving to a new place.
Or, if your car gets stolen, your Car Insurance would only cover the car itself, but your Renter's Insurance would cover the things you might have in your car, like your laptop, CD's, sporting equipment, and so on.
Renter's Insurance can cover the replacement of broken locks and doorways, in the event of a theft. It can cover Fire Department charges, and provide sewer back-up coverage. Some plans can provide you with additional living expenses, if you need to vacate your rental property while it's being repaired from damages.
There are even plans that can cover you if you're the victim of Identity Theft.
There are plenty of important reasons why you should invest in Renter's Insurance. It's a crazy world, and you never know what could happen. Make sure you're covered, call your Insurance Provider today.