While a landlord may have insurance coverage for their building, the tenants should be aware that that coverage does not extend to protect their personal possessions. A Renters Insurance Policy provides protection for your furniture and personal belongings against damage from such hazards as fire, lightning, windstorm, hail, explosion, smoke, vandalism, and plumbing leakage.

In addition to covering your personal property, a renters policy provides personal liability coverage. Personal liability insurance protects your assets in event that you are sued; it helps to cover the damages and associated legal costs.

Renters insurance is very affordable, and it is not worth the risk not to have it.