Whether you are a returning college student, a proud college graduate who just received your first job offer, or simply starting fresh in a new city, if you are renting an apartment or even a house, don’t overlook the importance of renters insurance.
The Insurance Information Institute found “only 41% of renters actually have renters insurance.”  Many choose to not purchase renters insurance because they believe they are covered under the landlords’ insurance, it won’t actually provide coverage they need, or that it is too expensive. The landlords’ insurance policy will cover damage to the dwelling but not the tenants’ personal property in the event of a loss. Renters insurance offers many benefits including coverage for theft, fire, water damage, vandalism, and more. The landlords’ insurance policy will cover damage to the dwelling but not the tenants’ personal property inside in the event of a loss. Compared to the price of homeowners insurance, renters insurance is very reasonably priced. In fact, the “average renter’s insurance policy only costs around $187 a year.” [READ MORE]