I frequently hear about homeowners insurance, whats out there for renters?
Even if you do not own the building where you live, it is likely you have valuable personal items which would be expensive to replace if they are stolen or damaged by fire or some other cause. Also, you still have potential legal liability to someone who is injured on the property you occupy, even if you are not the property owner. A “Renters Policy” is essentially like a Homeowners Policy but you are not responsible for coverage for the building/structure. Because of this, Renters Policies usually cost far less than Homeowners Policies. In some cities and regions, landlords require renters to obtain renter’s insurance. This is never a bad idea. Whereas, you are not the property owner, you still own things of value which you will want to protect.
