It is imperative to get renters insurance or house contents insurance if you have to live or work in a rented space, be it an apartment, an office room or just a room to live in. However, there are many factors to consider before getting a renter’s insurance, and it starts with the selection of the rented space itself. You must first consider the location of the space you want to rent. If it is close to potentially risky areas like factories or water plants, it may not be a good idea to inhabit such a place. Secondly, you must consider the building itself. E Read more…
i am renting a house from a friend and she wants me to get renters insurance because we had a problem with the toilet clogging in the pipes underneath the bathroom floor and down thru the living room ceiling, which now needs repaired. This has happened twice before, but when my my friend/homeowner had been living here, herself…and the problem occured in her master bathroom, which is now mine. So she knew of the problem previously…But can renters insurance cover this kind of damage to someone elses property?
If disaster strikes your dwelling, you as a renter, face the same risk as the homeowner. The homeowner’s insurance protects the building, not your belongings in it. Renters insurance can protect your belongings in case of disaster.
Renters insurance is the financial assistance which one receives in case of a loss or destruction of ones belongings when one is staying on rent. The actual economic value of the goods or commodities destroyed, stolen or damaged, belonging to the tenant is included in the renters insurance coverage.
We moved out of our apartment in August without giving the office 60 days notice, and we still owe them rent. They continue to charge us $15 per month in renters insurance. Should we contact the apartment leasing office or the insurance company to discontinue this charge?