Reasons you need renters insurance

If you own a home, chances are you have homeowners insurance to protect you if disaster

strikes. But what if you rent? Do you still need insurance? The answer is yes, and as Consumer Reports explains, recent disasters have shown just how valuable renters insurance can be.

Renters insurance can provide an important safety net if something happens.

Aside from helping cover damage or theft of your property and reimbursement if you’re forced

to move out, insurance offers liability protection if someone is injured in your home. It can also cover some possessions when you’re not home—like if something is stolen out of your car.

But like any type of insurance, Consumer Reports says it’s important to check policies carefully.

Renters insurance is fairly standardized, though coverage can vary based on the insurer and where you live. Bottom line: Make sure you understand your policy—what’s covered and what’s not.

CR suggests getting several quotes to make sure to find a policy gives you what you need, whether that’s a low deductible, additional coverage for your valuables, or a stay in a hotel if your apartment is damaged.

Consumer Reports also recommends doing a home inventory before disaster strikes. 

That can be as easy as taking a video of important items in your house. For more of CR’s tips for doing a home inventory, go to our website.

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