Personal possessions: This covers the cost of repairing or purchasing new furniture, electronics, or clothing.
In the event of a robbery or a fire in your apartment, this kind of insurance may come in handy.
Liability:
This kind of insurance helps pay for accidental damage to someone else’s property or injury to someone in or around your property.
For instance, if a guest gets hurt at your apartment, this insurance can help pay for their medical bills.
Everyday costs:
If your home suffers damage that does not result in structural damage, you can use this kind of insurance to cover a variety of other costs.
This could be useful if, for instance, your apartment is uninhabitable and you need to pay for a hotel.
Renter’s insurance may be required by landlords in order to shield the landlord from legal action in the event of property damage.
It’s possible that the renter doesn’t need or want the insurance coverage that is required. Check to see if renter’s insurance is required and how much it will cost before signing a lease.
