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Renters Insurance

Renters Insurance

If you rent a house or apartment, then the owner’s insurance does not cover your belongings. In the event of a fire or other disaster, the owner’s insurance will only reimburse the owner’s expenses. It is your responsibility as a renter to have renters insurance to pay for your belongings.

This policy insures your personal belongings when you live in an apartment or house that you rent. Most policies also will pay living expenses if you are forced to live somewhere else. You may also have the option of liability coverage.

This coverage is or people who rent an apartment or home. If you rent a condo, then you need condo insurance.

How it Works

If you experience an event that the policy covers, then contact your insurer to make a claim. The claim must be verified before the insurance company will pay anything. If the claim is determined to be legit, then the insurance company will either replace your belongings or issue you a check.

Coverage is standard, but there may be differences based on the type of dwelling. The main difference in policies is whether they pay actual cash value or replacement value.


The main benefit of renters insurance is receiving financial support following a mishap or disaster. If you also have liability coverage, then that’s beneficial as well.