Buying renters insurance is a big decision. It is important that you know the basics of what it means to buy renters insurance, the ins and outs of different companies, and what the average cost of renters insurance is. In this article, we will be breaking down the basics of renters insurance, what it covers, and how you can get the best deal.
1. What is renters insurance?
Renters insurance is a type of insurance that protects the renter or owner of a property against accidental damages. Renters insurance can also cover the renter in the event of theft or vandalism. Renters insurance is not meant to cover damages caused by the renter, such as fire or flood damage. Renters insurance is not necessary if the renter has contents insurance. Contents insurance is a type of insurance that covers the renter’s personal property, such as clothing, electronics, and furniture. However, contents insurance does not cover the renter’s liability, which is the responsibility of the renter to pay for damages caused by their actions.
