Renters insurance is an affordable way to protect what’s important to you. For just a few dollars a month, you can protect yourself and your property from all sorts of unexpected events.
Yes, however, the landlord’s insurance policy probably does not cover losses to your personal property, cover you against liability claims, or pay for the cost of a place to stay while your apartment is renovated. You need to purchase a separate policy to protect yourself against these kinds of losses that could run into the thousands of dollars.
You may not think it’s important to have insurance — after all, it’s not like you own the building! But imagine these scenarios:
