Do I need renter's insurance?
Yes! The landlord is only responsible for the structure of the property when damaged occur such as a fire, hail, or vandalism done to the property. Landlords are not responsible for the personal property of a resident. As a result if a pipe in your apartment breaks and caused a flood, any of your property that has been damaged by the water is not cover by the landlord’s policy. Renters insurance can also cover any accidents caused by other residents. It can also protect against liability lawsuits or medical bills of guests injured in your apartment. A resident including roommates should consider renters insurance for the safety of their personal belongings. It is not necessary for each roommate to have their own policy, but they must understand that renter’s insurance only covers the possessions of the listed policyholder. As a result, if four people are sharing an apartment, each person should have their own insurance. Or they may have one policy that covers all roommates.
For more information on rates, policies, and renters insurance here are some links you may visit.
