Apartment renters insurance is like homeowners insurance, only it does not cover building repairs. This type of insurance coverage not only protects you but also covers your liability if someone else is injured on the insured property.
A renters insurance policy protects your belongings in a rented apartment, house, condo, or other rented space from unexpected situations, such as:
- The impact from a vehicle
- Sewer backup damage
- A frozen plumbing system
- And more
When you invest in home renters insurance, you are paid for damaged, lost, or stolen possessions, should any of these misfortunate events occur.
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Many people think their landlord's insurance will cover their belongings, but that is not the case. Your landlord's policy only covers the building and usually doesn't include belongings or cover injuries sustained on the premises. That's why everyone should consider buying a renters insurance policy.
If you own a wardrobe of clothing, a house full of furniture, valuable electronics, but especially expensive jewelry that you keep in your apartment, it would be wise to get insurance for renters. Because if this stuff ever gets stolen or damaged, you could kiss it goodbye and forget about getting compensated for your losses if you don't have renters insurance coverage.