My landlord has insurance. Do I really need renter’s insurance?

Renting an apartment or house is among the most common housing options for young professionals and college students. While renting generally comes with lower costs compared to owning a home, it’s essential to consider the potential risks associated with renting a property in your area. This includes the risk of damage caused by natural disasters, like hurricanes and floods, and burglary and theft. That’s why it’s crucial to protect yourself with renter’s insurance, which provides financial compensation for injuries or property damage sustained by you or your personal belongings in certain situations. Keep reading to learn more about how renter insurance can help you rest easy and protect your finances!

Renters need insurance above what their landlords have to ensure they are fully protected in case of an accident or unexpected events. While your landlord may have some form of insurance, they may not cover personal property or items inside the rental unit. Landlord’s insurance typically covers only structural damage to the building and premises, leaving tenants responsible for any losses to their possessions.

Renter’s Insurance is a type of policy specifically designed to cover renters’ belongings in the event of theft, vandalism, fire, natural disasters, and other perils. This type of coverage ensures that tenants can replace damaged items and reimburse for financial losses due to these events. The policy also generally includes liability coverage for medical expenses and property damage if someone is injured on the rental property.

If you have any questions about renter’s insurance, give Western Republic Insurance Services a call today. We proudly serve the Huntington Beach, CA area.