These days, companies will try to sell you all kinds of insurance. There’s car insurance, life insurance, and a multitude of other types of insurance. If you rent a home or apartment, you’ll probably also be pressured, or, in some cases, even required to purchase renter’s insurance. You may be wondering whether or not you actually need this type of insurance, and the short answer is that yes, you do.
Renter’s insurance protects you, first and foremost, from unforeseen accidents. You might think
On the flip side, what if you’re the one responsible for that fire, flood, or other incident? If an accident on your part causes damage to others’ property or injuries, your renter’s insurance can protect you from having to foot the entire bill yourself.
The good news is that renter’s insurance, with all of the coverage it provides, is surprisingly cheap. Most people pay under $20 per month for their coverage, and discounts are available for things like installing protective devices, such as fire alarms. If cost is something you’re worried about, shop around for the best deal and ask your provider about possible discounts. No matter what you end up paying, it will be worth it when the time comes to actually take advantage of the protection your renter’s insurance offers you.