Renters / Apartment Insurance

If you rent an apartment or house, or sub-let a condo, you might believe that you don’t need any insurance because you do not own the building. After all, your landlord probably will have coverage, right? Unfortunately, your landlord's policy only covers the building, not your belongings. Without insurance of your own, you could be left with nothing in the event of a fire or burglary.  What if a guest in your home slips and falls?  Your landlord's insurance will not pay for his medical expense either.

Renters insurance is a unique kind of homeowners insurance. It provides no coverage for the building because you do not own the building. It is designed to cover your personal possessions if you rent an apartment, a house or perhaps sublet a condominium; it also offers liability protection in the event you are sued.

Similar to the homeowners and unit owner condominium policy, your possessions would be insured for the standard "named perils" common to the homeowner type policy. If your property is lost or damaged as a result of one of these perils, your policy will compensate you for your loss.

This is a relatively inexpensive policy considering the coverage it provides. It can provide replacement cost coverage for your contents; it provides additional living expense coverage in the event you are not able to stay in your home after a covered loss. It provides liability coverage in the event you are held liable for the injury or property damage of another person.