Is Renters Insurance Required? No, renters insurance is not required; it’s completely optional. However, it’s considered to be a necessity by some. There are probably a few things that are in your rental that you would have a hard time living without. What would you do if there was...
Renters insurance may apply innumerous situations, depending on the endorsements that you add to your policy. It does not cover intentional loss or damage, but it can cover damage caused by other renters in the building. For example, if a fire starts in a neighboring apartment, renters insuranc...
really doesn’t make sense for any renter to not have it. Think of this way: if your apartment gets damaged by a fire, and your renters insurance pays for you to stay in a hotel for a few weeks, the $5 to $20 a month we spent on renters insurance will be totally, utterly worth...
» MORE: The best cheap renters insurance Find the cheapest renters insurance in select states California Florida Georgia New York North Carolina Pennsylvania Texas About the author Sarah Schlichter Sarah is a NerdWallet authority on homeowners, renters and pet i...
Tenant insurance consists of three coverage parts — personal possessions, liability, and additional living expenses. Let’s break each one down below: Personal Possessions This portion of renters insurance coverage insures the personal items in your rented home. Basically, if you lose your belongings...
rent, it's on your landlord to make sure the building is safe andhabitable.But the landlord is not responsible for your personal belongings – and you'll read that in your lease. It is up to you to safeguard anything you bring into the space. This is where renters insurance comes in....
When you move into a new place, it’s more fun to imagine future dinner parties than worst-case-scenarios. Maybe that’s why so few renters have renters’ insurance—as of 2014, the Insurance Information Institute (III) reported only 37 percent of tenant
Asked why they choose not to purchase renters insurance, more than 1 in 3 polled said it was “too expensive” and they felt they had “no need for it,”according to the Financial Health Network. States with higher-than-average annual losses include California, Florida, Louisiana, Texas and...
Many people seem to think that renters insurance is required, though on its own, renters insurance is not legally required, though it may be part of the terms of a lease. Even if it is not required by your lease, there are many valid reasons to purchase renters insurance. Renters insuranc...
Renters insurance is a policy that protects tenants' personal belongings and provides liability coverage. It safeguards against financial loss due to theft, fire, or other covered events and offers liability protection if someone is injured in the rental unit. Though not always required, it is cove...