How Renters Insurance Works
We'll tell you everything you need to know about renters insurance. Find out what it is, what it covers, and why you need it.
Renters Insurance
When you apply for renters insurance rates, you are really applying for a type of homeowners insurance specifically designed for renters. Renters insurance is especially important for apartment dwellers because the safety of your apartment isn't always up to you. For example, if the person in the apartment above you leaves a cigarette burning, the ensuing fire will probably consume your apartment and theirs. If you don't have renters insurance, that means someone else's negligence will have cost you thousands of dollars in damages. As you can see, applying for renters insurance is a smart financial investment. Please visit our renters insurance policy information page for details.
Covered Events
You will receive renters insurance rates on policies that will usually cover the following events:
- Vandalism
- Fire and lightning
- Smoke damage
- Accidental electrical damage to appliances
- Falling objects
- Broken glass
- Wind and hail damage
- Theft
- Liability lawsuits (covers the settlement and your legal fees if a lawsuit is brought against you from an accidental injury someone sustained on your property)
Why Get Renters Insurance
There are many reasons why you should apply for renters insurance rates. Here are a few of the biggest reasons why renters insurance makes sense:
- Your landlord's policy does not cover your personal belongings. Your valuables and personal items are not covered by your landlord's policy. So, if you want to replace your personal belongings after they are lost in a disaster, you need renters insurance.
- Renters insurance is affordable. Especially when you apply for renters insurance rates on our site, renters insurance is very inexpensive. The average policy costs about $12/month.
- Protection from lawsuits. If an accident happens in your apartment and a liability lawsuit is brought against you, it could mean financial ruin if you don't have liability protection. Renters insurance will cover your legal fees and any judgments against you.
