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Homeowners need home insurance and renters need renters insurance. If you're a renter and you don’t have renters insurance, you're risking financial disaster. Here are some facts about renters insurance that you should know. FACT: Renters are not covered by their landlord's policy Property owners purchase insurance coverage for their buildings, not their tenants. This insurance covers the building itself from loss. It does not ... * Cover your possessions if they are damaged or stolen. * Pay your living expenses if your home or apartment is damaged and you have to live somewhere else during repairs. * Cover you if someone is injured while visiting you. You need to buy renters insurance to provide these coverages. FACT: You have more possessions than you think It only costs a couple hundred dollars a year to buy renters insurance. If you walk around your house and take inventory of everything you own, you'll realize it would cost much more than that to replace everything. Renters insurance covers all your possessions including: * Electronic equipment * Sports equipment * Clothes and shoes * Musical instruments * Furniture * Appliances * Kitchen items * Tools * Jewelry FACT: Renters insurance is cheap You can buy renters insurance for only tens of dollars a month or a couple hundred dollars a year. This will buy you about $30,000 worth of coverage for your possessions and $100,000 worth of liability coverage to protect you from personal liability lawsuits if someone is hurt in your home. To make sure you get the best rate on your renters insurance, go to an insurance comparison website where you can get fast quotes from multiple A-rated insurance companies. The best insurance comparison websites also let you talk online with insurance professionals and get answers to your rental insurance questions (see link below). Visit http://www.LowerRateQuotes.com/renters-insurance.html or click on the following link to get cheap renters insurance rate quotes from top-rated companies and see how much you can save. You can also get more insurance facts and tips there. The authors, Brian Stevens and Stacey Schifferdecker, have spent 30 years in the insurance and finance industries, and have written numerous articles on renters insurance facts.
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