Yes, You Need Renters Insurance. Here’s Why.


Imagine there’s an accidental fire in your apartment. Even if you don’t think you have valuable belongings to protect, you would still be losing your clothes, electronics, furniture, and more. Without renters insurance, you would have to pay out-of-pocket to replace those items. This is one of the many reasons renters need their own insurance coverage.

You may be thinking, “isn’t that covered under my landlord’s insurance?”. However, landlord insurance covers the structure of the building and not their tenants’ personal belongings. And while some landlords require renters insurance, many don’t. That means you’ll need to be proactive about protecting your own belongings. 

Renters insurance covers loss of use

Renters insurance loss of use is designed to ensure you don’t have to pay additional out-of-pocket expenses from a covered claim. So, if there’s a fire in your apartment and you have to stay at a hotel, loss-of-use would help cover those accommodation costs. Loss of use coverage can also pay for gas or meal costs associated with living away from home during a repair.

Renters insurance provides liability coverage

What if a visitor trips and falls in your apartment and breaks their leg? If there is a claim made against you or you’re sued, your renters insurance can help cover the cost of legal fees and damages. This is, again, something your landlord’s insurance would not cover. 

If you’re currently renting and don’t have a renters insurance policy, don’t stress! Our experienced advisors can help you find the perfect insurance policy so you’re completely covered. Get peace of mind and contact an advisor today at 518-392-5161.

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