$18 a month is a very modest amount for $125,000 of coverage. Everyone who rents should have renters insurance covering their belongings both inside and away from their apartment.

Remember: the owners apartment building policy does not cover your belongings or provide liaibility coverage for your family. Don't be "self-insured"! Protect your belongings. Get liability coverage. It is very reasonable and will give you peace of mind.


What is it? Renters insurance provides both liability coverage for you and your family and coverage for your personal property, your belongings, both inside and outside your apartment. The apartment building you live in is insured for damage to the structure. This coverage does not include your property; furnishings, clothing, stereo, car, camera, and so on.

Why do I need it? The owners insurance policy does not cover you. The type of events that are usually covered by Renters Insurance are;

• The apartment building catches on fire and your belongings are lost due to water, smoke, and fire damage.

• An electrical power surge toasts your computer, the 42' TV, and the new stereo.

• The bad guys clean out your apartment while you are on vacation.

• You have additional housing and eating expenses while the insured residence is not habitable due to an insured loss. You are in a hotel while the building owner rebuilds your damaged apartment.

• Personal property away from home is damaged, destroyed, or stolen. In your car, at a friends house, on vacation, etc.

• You damage the property of another person.

• You clobber your golfing partner with you back-swing. Personal liability protection against claims caused by unintentional acts on or off your insured premises.

• Someone injures themselves in your apartment.

Any options? You may be able to get earthquake coverage, additional liability coverage (this is usually a few dollars a month more and is worth considering), increased property limits, etc.

Where can I get it? Most insurance companies will provide Renters Insurance. Shop around. Compare rates and coverage.

What does it cost? Each insurance company will have specific coverage which will vary. But $25,000 of property loss coverage with $100,000 of personal liability coverage recently was quoted to us at $18 to $20 a month. This will vary based on location and company. Discounts: For non smokers (you did quit right?), if you have auto coverage with the same company, a smoke alarm, deadbolt locks, etc. may all qualify you for a discount.

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