Mortgage lenders require homeowners insurance for people who have a mortgage loan.
This protects the property, possessions, and financial losses from visitors’ injuries. However, renters of a home are not covered by homeowners insurance.
Renters insurance, on the other hand, is a type of property insurance that protects the insured from liability claims and covers losses to personal property.
Injuries that do not result from a structural issue are covered by the coverage. Wounds because of underlying issues are your landowner’s liability.
Anything from a studio apartment to a whole house or mobile home can be covered by renters insurance.
A renters insurance policy can be a safe bet because it is relatively inexpensive and simple to obtain, even if you are just starting out or living in a short-term rental.
Even if you don’t think you own anything valuable, you probably have more than you can comfortably afford to replace in the event of a fire or burglary.
