Renters Insurance

Owning a renters insurance policy is important if you’re a tenant, because of the protection you receive. If someone were to bring a liability lawsuit against you, accusing you of being negligent at your apartment and causing them injuries, the renters insurance company would represent you and pay out any settlement or damages. Certain pet owners, such as dog owners, need special protection because of the risk of your dog biting a child or adult. All pet owners can benefit…

If you think that you landlords insurance policy covers you, think again. As a tenant, you need your own renters insurance policy to protect your personal items and to cover you in cases where people sue you for liability. Your landlord’s policy doesn’t protect you, but you may benefit from the repairs made to the apartment, appliances or furniture. However, in a lawsuit between you and the landlord, you won’t benefit from his insurance policy at all.

Legal Defense

Being a landlord…

Paying for college is overwhelming if you don’t have scholarships to pay for full tuition. Renters insurance is a smart way to hold on to as much money as you can in order to pay for two, four or more years of higher education. Without it, you may have to pay to replace your belongings or defend yourself in court. That money could be put to better use on books, tuition and rent.

Landlord’s Insurance vs. Renters Insurance

You landlord has rental…

Your renters insurance policy does not cover your roommate, and their policy does not cover you. Each roommate needs their own policy to protect their personal property, and in cases where guests and other visitors will want to sue for liability. For that reason, it’s important to discuss the topic of renters insurance before signing an agreement with your roommate to rent together.

Personal Property Damage

Renters insurance covers the actual value or replacement cost of your personal property when destroyed, damaged…

Landlords can require that you obtain renter’s insurance for a number of reasons, but, basically, it’s all for the common good as this type of insurance protects you from liability and the loss of your belongings due to theft, vandalism, flood, tornado, earthquake or fire. The following reasons serve to emphasize this point.

Reason #1 - Reduction of Liability

Because landlords do not want to lose good tenants due to unanticipated lawsuits, they typically like their occupants to carry renters insurance. For instance,…