Is renters insurance a good idea?

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asked Nov 1, 2022 in Real Estate - Renting by 23rounds (16,450 points)
Is renters insurance a good idea?

1 Answer

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answered Dec 1, 2022 by Brazilnatzer (3,400 points)
Renters insurance is always a good idea to protect your belongings and most landlords require renters insurance when you rent a home or apartment and sign the lease.

Some Landlords will require you to have Renters Insurance as part of the rental and lease agreement so be sure to read over your rental and lease agreement to see whether the landlord requires you as the tenant to have renters insurance.

Some do require renters insurance while others do not.

If they do not require renters insurance then you don't have to purchase renters insurance but having renters insurance is a good idea anyway because it protects and replaces any damaged property or personal belongings you do have should something happen to the apartment or rental house and damages your belongings.

Renters Insurance usually also covers the replacement of any stolen items from your home, apartment and sometimes even your vehicle and when you're traveling.

Renters Insurance can be bought for around $8.00 to $12.00 per month which is way less than $1.00 per day so I would certainly get renters insurance when renting to protect my belongings.

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