Rental Insurance Is more Important that you think

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We understand the importance of renters insurance, even if it’s not required by law in your state. While some landlords may require you to have insurance, it's also a valuable safeguard for anyone renting a property. 

Even if your lease doesn’t mandate renters insurance, it’s wise to have coverage to protect yourself from potential financial setbacks. Without insurance, you risk losing your lease if your landlord requires it, and finding a new rental can be challenging. For those with limited savings, renters insurance is especially important. It helps protect you from significant financial losses in case of unforeseen events, such as a fire in a neighboring unit, which could otherwise leave you without affordable temporary housing.

Renters insurance covers your personal belongings if they are damaged by covered events, such as fire or vandalism. While this is a key benefit, renters insurance also provides liability coverage if you accidentally cause damage or if someone is injured in your rental unit. 

Renters insurance is typically very affordable, often costing about as much as two lattes per month. 

It’s important to note that renters insurance does not extend coverage to your roommates. While you can add a roommate to your policy, it’s generally a good idea for them to have their own policy to avoid potential complications with claims.

To fully understand what your policy can cover, it’s best to consult with on of our insurance experts at The Woj.