Many renters dont stop to think about what happens if there is a fire, someone breaks in and steals their new TV or stereo, or a visitor slips and falls on their property. The sad truth is; you will be responsible! While your landlord has
insurance that covers the actual building, that coverage does not include your personal property or liability for injuries which occur in the space you rent ~ be it an apartment or a house and yard.
If a fire should destroy or damage your home, your landlords insurance will cover the structure. It wont cover damage or loss of your belongings. Neither will it provide for the cost of temporary housing for you and your family.
You may think you dont own enough personal property to make the cost of insurance worthwhile. Youre probably wrong! If you sit down and add up the cost of everything you own, you may be in for a big surprise. Consider what you have invested in such things as:
Furniture and accessories
Electronics like TV, stereo, computers
Small appliances like microwaves, toaster ovens, etc.
Art work like paintings or prints
Dishes, silverware and cookware