Are you afraid of the big bad disaster? Even if you don't think that a disaster could take your house down, it's prudent to have renter's insurance. From fires to hurricanes to leaks, both homeowners and renters need insurance to protect themselves and their apartment rentals. Why should you purchase renter's insurance?

Your Landlord's Insurance Isn't Enough

If you're living in apartment rentals, your landlord has insurance, right? While you hope that's the case, the fact is that even if your landlord has complete insurance coverage, that coverage won't cover your personal property if there is a disaster. Your landlord's insurance is designed to cover your landlord's interests, protecting the property itself. Your insurance covers your interests and your property.



You're More Vulnerable Than You Think

You might think that you're not vulnerable to large-scale disasters. The last hurricane to hit your area happened years ago. However, any home can experience a break in, and any home can see a toilet overflow or a pipe burst in the wall, causing property damage that can cost you a lot of money. While you may not feel vulnerable to large-scale disasters, smaller ones can be just as serious to your property.

You Could Hurt Others

Have you ever left a pot boiling on the stove or forgotten about the kitchen sink that continues to run? Even if you've got an excellent memory, accidents happen, and they can cause damage to your home. They can damage other peoples' homes as well. That overflowing sink could leak into the suite below. Renter's insurance not only covers you, it also covers problems in your suite that impact others.

Renter's Insurance Is Back Up

With a renter's insurance deductible, you may wonder if it's really worthwhile to secure insurance for apartment rentals. However, if something large does go wrong, unless you have hundreds of thousands of dollars in savings, you'll need to ensure that you have renter's insurance.

Cover Your Liability

When you purchase renter's insurance, look at how much liability is covered under the policy as well. Some policies protect people as well as property. They will protect you if a friend comes over, trips on the rug, and breaks an arm. Take a look at your renter's insurance policy to see if you're covered for medical liability.

Make Sure That You're Covered

While renter's insurance is a way to protect yourself, you are responsible for ensuring that you're truly protected. Check the property limits for each category on your policy. For example, if you collect expensive sports equipment, you may need to ask for a higher amount on your insurance to cover that equipment. If you live in an area that's prone to flooding or earthquakes, check with your insurer to make sure that you're covered, or get an extra policy so that you're secure if a large disaster hits.

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