Renter’s Insurance is a MUST
10 Jan 2010
It is a misconception of a lot of renters that the owner’s insurance covers the belongings of the renter’s as well. This is not true. The insurance only covers the damage or loss only to the house.
It is advisable to get your own renter’s insurance. It is somewhat similar to an auto insurance since it provides coverage for your personal belonging in case unavoidable circumstances such as fire, flood or other dangerous event occur.
Renter’s Insurance can also protect you in case a lawsuit is filed against you. If an accident occurred in the rented residence, the victim might point you as the one responsible and request financial support due to the injuries .