However, just as most of us would not think of owning an automobile without auto insurance, renters need protection for their personal possessions and from liability. Even the smallest apartment can easily contain personal property worth thousands of dollars. And all of us are at risk for liability. This information, prepared by the Independent Insurance Agents of America, provides you with important information about renters insurance.
Many renters think they are protected under their landlord's policy.
However, the property owner's insurance covers the building itself and seldom a tenant's possessions. Clarify this with your landlord before signing a lease. Again, the owner's policy may specifically exclude liability for something that occurs within your rented residence. You could be held liable for injury to another person or damage to another person's property if the incident occurred within your rented residence. A Look At Premiums Renters insurance, because you are not insuring a building, is surprisingly inexpensive.