Before moving into the apartment I live in now, I had no idea that there is such a thing called Renter’s Insurance. To sum it up, it is there to protect you from any type of damage to your apartment and your belongings whether if it is fire, storms, theft, etc. I quickly learned that it is a requirement when renting, in my case at least.
At first I thought, “Oh man here’s another insurance premium I have to pay each month.” However, renter’s insurance is very very cheap because I’m just paying around $100 a year. I know there is a lot of confusion as to how much renter’s insurance cost when living out on your own but I assure you that it doesn’t cost that much. One point to remember is that don’t ever think that whoever owns the apartment complex should take care of the insurance and that you don’t need to worry about it. The truth is, they only cover the actual building but not your belongings.
One of the ways to make your renter’s insurance even cheaper is to get a quote from your car insurance so that they might give you a discount. If you want to learn more about the types of coverage there are, public liability insurance will provide more insights. Another point to remember is don’t go thinking that you don’t need it because you will never know what unsuspecting accidents life might bring you. Unless you have a state of the art fire-proof safe box with laser detection in your apartment, I would choose the renter’s insurance. Also, Check out this post for more information if you are a new home owner looking for insurance.
Do you have renter’s insurance? do you take the maximum coverage? Please share your thoughts:D