Renters’ Insurance And Why It’s So Important

April 14, 2020

When someone is renting an apartment or a house, they may mistakenly think that their possessions are covered under the insurance of the property owner. That may not be true, and that’s exactly why you need renter’s insurance. It can help cover you and your possessions in the face of a catastrophic loss or another financial challenge. As such, here’s a look at why renters’ insurance is so important, and it can help protect you.

Many Places Require It

Depending on where you live, your apartment building, local or state laws may actually require that you get renters’ insurance. This is as much for their protection as it is yours, and renter’s insurance can help to distribute financial losses to a business that is prepared to pay for them, rather than to social services or a landlord. One of the most important things you can do is check with your local and state laws when signing a lease on a new place of residence. You can also ask your landlord if they require that you get renters’ insurance and ask if they have any recommendations about good insurance firms you can use to get this insurance.


The purpose of renter’s insurance is to protect you, as it provides you financial protection if something happens to you or your possessions. According to Murfreesboro Insurance Solutions, renters’ insurance protects residents in the event of an incident. Renters’ insurance is similar to liability protection in this way, and this is one of the lesser-known features of this type of protection.

It Is for More Than Just Your Things

Sure, renter’s insurance can cover your possessions if there is a fire, theft or natural disaster. However, according to Policygenius, it can cover more than that. Depending on the specific policy, it can also cover medical bills, legal liability, and living expenses if your rented apartment or house becomes temporarily unlivable. These are all expenses that may not be covered by any other policy, and that could potentially result in a major hit to your wallet.

Renting a home or apartment demands that you be a responsible tenant. This means many things, taking care of the property, ensuring the safety of your guests and roommates, and getting insurance. This will cover you, or family and your possessions in the unlike or unfortunate event that something terrible happens. Remember, the last moment you want to find out something has gone wrong is after an incident, not before.

If you’re looking for a place to rent, take a look at our available rentals!

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