Your landlord's policy does not cover your personal property
The home or commercial property insurance policy your landlord carries insures the landlords property, not yours. If a fire or other disaster destroys your possessions, you could suffer a significant financial loss unless you have renters insurance. A renters insurance policy provides protection for your personal property, such as furniture or electronic equipment, in case of perils like fire or theft.
Renters insurance provides liability protection
Unintentional bodily injury or property damage that you cause to others could be as financially damaging to you as a fire in your apartment. Liability protection against accidental occurrences (such as someone slipping on a wet floor and breaking an arm) comes standard with renters insurance policies.
Renters insurance is inexpensive
Even if you feel your possessions are fairly modest, losing even one big ticket item or lots of smaller possessions at once could be financially devastating. Unless you have enough money saved to replace everything you own—clothes, furniture, computer, entertainment system, microwave, etc.—renters insurance is definitely worth the cost.
Depending on the amount of coverage and the deductible, a typical renters policy with Member Benefits starts at $6–$7 per month.
For a free insurance consultation and comparison quote, give us a call at
1-800-279-4010 or schedule a personal phone consultation at a time convenient for you.