Why To Get Renters Insurance?

  1. 21750 POINTS
    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is a great question! Renters insurance is designed to help you replace your things if they are stolen or damaged while living  in a place that you don't own. The landlords insurance will cover his building, but not your things. If you have the money to replace all of your things, or cover yourself from lawsuits should someone be injured while in your home, you really don't need it. Unfortunately, most people don't, and that is why an affordable renters insurance policy is such a blessing to have.
    Answered on May 12, 2014
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  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    When you sign a lease to rent a home you accept obligations.  Look at your lease and rental agreement and you will see that you are responsible if someone is injured on the property.  You are also responsible for damage to the unit.  What it does not say is that the landlord is responsible for anything that might happen to your property.  You need a renter’s policy because of the obligations that you have taken when you rented the property.
    Answered on May 12, 2014
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  3. 992 POINTS
    Phil Tuccy
    Owner, Insurance Group Consulting, LLC, Florida
    Why?   My Son was renting an apartment in North Carolina a few years ago, when a kitchen fire got out of control and spread everywhere in the dwelling, causing extensive damage.  He lost all his belongings and was obviously unable to live in the apartment.  Fortunately he had listened to me over his 'formative years' and purchased a renters policy.  It paid him for everything he lost and gave him additional living expenses, to rent another apartment.   Not an expensive policy for the benefits, in the event of a loss, particularly of this type.
    Answered on May 13, 2014
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