Should You Buy Renter’s Insurance?


Some landlords require tenants to purchase insurance to limit their own liability. Even if purchasing insurance is not mandatory, it is a good idea. Renter’s insurance is remarkably inexpensive and covers not only your personal possessions but your liability when someone is visiting. It can even cover your items when you are away from home.

Why Do You Need It?

Who needs renter’s insurance? Anyone who rents an apartment, that’s who. If the building you live in catches on fire or there is a leak that damages your unit, the owner’s insurance will cover repairs but it will not replace your damaged furniture or replace your books or clothing. Renter’s insurance will do that. It also covers theft and damage from weather, although flood and earthquake damage are not usually included. So if you are looking at apartment insurance sacramento ca, you might want to check what is covered in your area.

How Much Do You Need?

Once you have decided to purchase apartment insurance sacramento ca, you have some decisions to make. How much insurance do you need? You can get policies that cover the full replacement cost of your items or you can get actual value policies, which are less expensive but won’t cover the cost of a new couch if the six-year-old one you bought at a yard-sale is damaged. Also, it is a good idea to purchase additional coverage if you have expensive items in your apartment such as jewelry, art or a custom-designed gaming system.

What Does It Cover?

In addition to replacing your belongings should disaster strike, renter’s insurance also provides liability coverage in case anyone is injured in your apartment. Most policies cover up to $100,000 but you can get more if you think you might need it.  Renter’s insurance will also protect your items when you travel, whether they are on your person or in your car.

It’s a good idea to make a small investment in renter’s insurance to be sure that your important possessions are protected. Disaster can strike when you least expect it.

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