As a renter, you’ve got it pretty good: No property taxes, no lawn cutting, and no snow removal.

But what would you do if you returned from work or a vacation and all your possessions in your apartment had been destroyed by a fire? Or if there were a break-in and some of your most expensive stuff was stolen?

You may think that the building owner’s insurance would take care of all the damage caused by a fire.

It doesn’t.

Your building owner is only required to carry insurance for the structure. Usually, covering everything outside “your walls” is their responsibility, while everything inside is yours to cover.

This means all your furniture, electronics, appliances, clothing, and jewelry are uninsured unless you purchase a renters policy.

If you’ve considered it all, you might think that the “stuff” you have accumulated isn’t worth that much. It may or may not be worth anything from a dollar amount, but that’s very different compared to how much it would cost you to replace it. Buying a new bedroom set, clothing, or a computer can cost much more than you think.

You’ll be surprised at how affordable renters insurance can be. Besides covering all your stuff, it covers you from being held liable for if someone hurts themselves while they’re in your home. So, in the unfortunate event you’re sued, and the judgment goes against you, the renters policy will cover you, up to the policy limits.

According to recent estimates, nearly two-thirds of the 81 million people who rent their homes are uninsured for their contents, or for any liability arising out of their tenancy.

First, do the math and add up how much it would cost to replace your belongings.

Second, check with the terms of your lease, and verify if carrying a renters policy is required by your landlord.

Third, request a renters insurance quote to verify just how affordable it is to protect your belongings from perils like theft, vandalism, fire, and falling objects.

Renters insurance can cover virtually all of your personal possessions. Most policies provide coverage for electronic goods and equipment, small appliances, sports equipment, cameras and photography equipment, furniture, clothing, glassware, china, and books. Other items, such as computers, jewelry, furs, watercraft, and firearms, can also be covered with extended protection. Your renters insurance policy may include:

• Personal property protection
• Family liability protection
• Guest medical protection
• Additional living expenses
• Additional protection
• Temporary housing
• Liability protection for people on your property
  

Again, we encourage all renters to spend just five minutes with a calculator to add up the cost of replacing everything they own. What if you came home tomorrow and your apartment had burned down? Where would you go? How would you pay to replace your clothing, furniture, and appliances? When you ask yourself what renters insurance covers, you can relax and say yes to all of the above.

While most insurance products are similar in price and function, insurance providers vary when it comes to structuring a policy tailored to you.

After all, there’s no such thing as a one-size-fits-all insurance policy when it comes to your personal property.

Contact us today, and we'll help you protect what matters most.