Renters often believe that their possessions aren't worth much, that apartment and condo insurance is too expensive, or, that in case of a disaster, they will be covered by their landlord's insurance. Unfortunately, all are incorrect. Here's why:
Worth: Could you afford to replace stolen valuables from a break-in or everything you own if your rental were destroyed by fire or other disaster?
Cost: For the cost of a few lattes, a CD or a large pizza - just $10 to $15 per month - you could purchase renters insurance for your personal property.
Landlord's Coverage: The landlord's insurance generally covers the building only, not the privately owned contents of the units. QBE Farmers Union’s Renters Insurance: you really can't afford not to have it.
In addition to Renters Insurance, you may be interested in additional coverages to protect yourself:
• Auto Insurance
• Overall Personal Umbrella to add more coverage