Dartho
Active member
Why I need rent insurance?
Many apartment and property owners or the landlord only have insurance coverage that covers the destruction to the house, that leaves everything that belong to you like - electronic devices, home furniture, clothes. Therefore, to protect your own property in case of theft, fire or damage, you will need your own insurance policy, called renters insurance policy. (Except if you have the money to replace almost everything on your own!)
In addition you need liability coverage for damages caused by your fault. For example, if you mistakenly leave your kitchen sink on and it overflows into your neighbors house, you may be found responsible for the damage and you will be expected to pay for the repairs or bills related to the accident, along with protection costs should they bring a suit against you. Tenant insurance would likely cover those expenses.
Many apartment and property owners or the landlord only have insurance coverage that covers the destruction to the house, that leaves everything that belong to you like - electronic devices, home furniture, clothes. Therefore, to protect your own property in case of theft, fire or damage, you will need your own insurance policy, called renters insurance policy. (Except if you have the money to replace almost everything on your own!)
In addition you need liability coverage for damages caused by your fault. For example, if you mistakenly leave your kitchen sink on and it overflows into your neighbors house, you may be found responsible for the damage and you will be expected to pay for the repairs or bills related to the accident, along with protection costs should they bring a suit against you. Tenant insurance would likely cover those expenses.