Learn How to Protect Your Belongings with Renters Insurance

Let's say your bicycle is stolen. Or you lose your engagement ring. Or your apartment is burglarized.

Your landlord's insurance policy only covers the building, not your belongings. But if you have renters insurance, your losses would be covered in all three scenarios. Yet, only an estimated 34 percent of renters have policies.

Many believe renters insurance is as expensive as, say, car insurance. But it's not, according to the National Association of Insurance Commissioners. Most policies are less than $200 per year, which is a small expense when considering the cost of replacing your belongings if you experience a loss.

The website usa.gov offers resources for renters on renters insurance, including how to secure a policy, determine what type of policy would be best for you, and how to do an inventory of your possessions. For example, if you have expensive jewelry, you might want to consider adding extra coverage because a standard policy only covers jewelry up to $1,500. You can also get tips on other topics relating to renters, such as how to select a reputable moving company.

Visit usa.gov for more information!

USA.gov Housing Publications
Renter's Insurance
Your Home Inventory

Got Renters’ Insurance?

Disasters can sneak up on you.

Perhaps you played a friendly game of cards with the Big Bad Wolf one Saturday night. He was a nice guy until he started losing, then he threatened to huff, puff and blow your apartment building down.

Lo and behold he tried. But he doesn't have the lung power he used to, and only a few shingles came off. Still, it rained on your stuff, and the smell of his breath got into your towels, carpets and bedsheets.

Your landlord's insurance policy will patch up the roof, but it won't pay to replace your collection of vintage Barbie dolls. Unless you have renters insurance, you're out of luck.

So get it. Today. And if you already have it, make sure your policy is current. Renters' insurance is offered by all major insurance companies, and it's usually quite affordable.

Enjoy the peace of mind, and good luck with the card game.

Yes, You Need Renter’s Insurance

Don’t worry: your landlord has insurance. If a UFO crashes through the roof, his policy will fix it.

What it won’t do is replace your Barbie doll collection, that laptop ruined by the rain, or buy you a new pair of shoes.

Why? The roof is your landlord’s property, along with the fixtures, the floor, and the walls. His insurance protects the structure against damage.

Your property needs its own insurance policy. Without renter’s insurance, you’re stuck with losses.

We all hate to add another bill to the pile—but disasters can happen to anyone. So contact your insurance company today and ask them about renter’s insurance. Many companies offer discounts when it’s combined with car insurance or other policies.

A small monthly payment buys priceless peace of mind.