Renter’s Insurance

While you were away –

You had a wonderful weekend visiting an old friend from school. Tired and broke, you come home to discover that someone had broken in and taken all your electronics (“how am I going to live without a computer” and “oh no, I’m going to miss the football game tonight”); but you don’t freak out because the landlord is responsible, right? Wrong. You are responsible for your personal possessions.

If someone trips over your dog and injures their elbow, the landlord is again, not responsible, you are.

If you leave the stove on and something catches on fire and moves to your neighbor’s apartment, again you are liable for your personal property and your neighbor’s personal property if it can be proven that you were negligent.

Bottom line, you are responsible for your personal property and liable for any personal injury that occurs in your apartment.

Many people chose to take out a Renters Insurance Policy so that they don’t have to take on these types of risks.

The following basic policy will cost on average around $15 a month. Higher limits can be purchased at additional costs.

A question to ask yourself when deciding whether or not to purchase Renters Insurance is: “Am I going to feel more pain when I have to write a $15 check each month, or if I walk in and all my things are destroyed?”