If you are renting an apartment or home, you will need an insurance policy to cover your belongings. Your landlord’s property insurance policy covers only the losses to the building itself, whether it’s an apartment or a house. Your personal properties and certain liabilities are only covered through a renters insurance policy that only a tenant has to find and pay for. Not many people have renters insurance because they incorrectly assume that the landlord’s policy and renters insurance policy is the same.

Reasons to get a renter’s insurance policy

Your renter’s insurance helps you protect yourself and your stuff.

  • Personal Property – Renters insurance covers all your belongings such as clothes, furniture, electronics, etc up to your coverage limits. Renters policies protect against a surprisingly long list of perils such as :

1. Damaged caused by vehicles
2. Explosion
3. Falling objects
4. Smoke
5. Windstorms or hails etc.

  • Damage liabilities –   Liability helps to protect you from getting sued if visitors get injured in your apartment regardless of whose fault it is. Renters insurance also covers damages done to other apartments nearby if any unforeseen events occur.
  • It covers your additional living expenses – If your home becomes uninhabitable due to some mishaps, your renter’s insurance policy may cover the additional living expenses including the cost associated with living somewhere else temporarily, food, and more. Check with your policy provider to find out how long it will cover additional living expenses.


  • It covers your belongings when you travel – Renters insurance covers your personal belongings whether you are at your home, in your car, or while you travel.  Your possessions are covered from loss due to robbery and other losses anywhere you travel in the world.
  • It is affordable – If you need to know another reason to consider renters insurance, it is incredibly cheap. Typically, you could pay renters insurance for many years without a claim. Remember, without this coverage you are responsible for replacing all your belongings and paying for them yourself.
  • It is Versatile –A renters insurance policy can be tailored to fit your specific needs. In many cases, the policy can be modified to travel with you if you move before the policy expires. Similarly, as your personal property changes, the policy can be updated according to your new possessions. For pennies a day, renters insurance is the most versatile form of property insurance on the market.


Renters insurance is important and crucial to your life. It can help you maintain your lifestyle, even after a loss.

Be sure you understand what your policy covers and ask your agent about available discounts, deductibles, and coverage limits.

Living without the protection of a renter’s policy is a huge mistake you should not make.