|Why Renter's Insurance?|
You may be surprised to learn that renter's insurance is not that expensive. The only thing you're insuring is the contents of your apartment, so your premiums can be as little as $20 a month. You can lower that cost even further by getting a policy with roommates, increasing your deductible or having multiple policies with the same carrier (renter's and auto insurance, for example). It's certainly cheaper than replacing all your possessions after a disaster.
Renter's insurance provides the security of knowing that if you lost everything today, you wouldn't be forced to start from scratch. Renter's insurance can even cover you for personal possessions that don't happen to be in the apartment at the time of the loss. If that friendly tour guide in Milan happens to find his way back to your hotel and makes off with a suitcase full of your stuff, you don't have to just suffer the loss.
course, you can always count on part of your landlord's policy, right?
Well, not quite. Many renters are under the impression that
policy covers their belongings as well. Unfortunately that's not
the case, and they often don't find that out until the worst possible
after a disaster or a robbery. Your landlord's policy doesn't cover
anything that's yours. The only exception to this would be if the
loss was caused
by negligence on the part of your landlord, and then you would
still have to prove it in court.