You rent an apartment and assume that your landlord has got you covered insurance wise, right? Not really. Here are some stories to show how renters insurance is a smart choice for any renter:
Susan had been living in her apartment complex for seven months. She had her car insured, a life insurance policy, and figured she was set. One Monday evening after a rough day at work, she was met by an irate downstairs neighbor. It turns out, Susan had left her bathroom faucet running that morning. It quickly overflowed, causing damage to her flooring, the downstairs neighbor’s ceiling, and his collection of leather-bound field guides. Unfortunately, Susan found out the hard way that she had to compensate for the damage she had caused due to her own negligence.
Hank began renting his aunt’s small corner house as soon as he graduated from high-school. His aunt made sure that Hank researched the best options for renters insurance and bought a policy before he moved in. Five years later, Hank was tying on running shoes when his dog snuck out the screen door, attacking a leashed dog and its owner as they walked past on the sidewalk. Thankfully Hank’s renters insurance covered the lawsuit that was brought against him, or he never would have been able to afford the legal fees.
Francine moved into a small rental home by the gulf. Thankfully she got a renters insurance policy before some strong winds knocked a tree right into her living room. Her insurance paid for a motel room during the house’s renovations, while the landlord’s insurance paid for the damage done to the house itself. Francine was also able to collect on the damages to her personal items.
As you can see, these three stories could very easily happen to anyone. Your landlord’s insurance typically covers the building itself. You are responsible for your personal belongings, your pets, and your own negligence.