Before Buying Renter's Insurance

Posted by Lisa Nichols Oct 8, 2007

If you're renting for the first time, you may have just heard about Renter's insurance for the first time, too. Read a Suite101 reader's question and dilemma regarding renter's insurance:

"Lisa,

I am about to move into an apartment and the landlord is telling me that I have to have renter's insurance. In fact, it's in the lease! Do I have to have to buy renter's insurance?

Thanks for your advice!

Sincerely,

Trying to Keep Costs Down"

Renter's insurance, or apartment insurance, is often a requirement for renting, especially at apartment complexes. Before you start getting steamed about the additional costs, consider what renter's insurance can do for you.

If you have a covered loss, your landlord most likely won't be responsible for damages. You need renter's insurance to protect your belongings in your apartment. And, you'll be surprised to learn that renter's insurance usually costs less than $200 annually, payable in installments. Not a bad deal, considering the added protection for your valuables!

Learn more about what's covered by the policy before you buy renter's insurance.

Talk back with a writer- tell Lisa Nichols about your experience buying renter's insurance and submit your tips, news and story ideas to the insurance blog.