Posted July 01, 2011 by RentJungle

Hoping one day soon to own a home, I have been renting apartments for the last 7+ years.  The renting first started when I moved to Miami for school and has continued well after I’ve graduated.  With my credit not in the best of shape, renting has been my only housing option and one that I’ve actually grown quite comfortable with. But over the past seven years, I’ve never considered buying renter’s insurance.

Renters insurance is similar to homeowners insurance in that you’re protecting the possessions that you own but different in that the actual living space is not included in the policy.  This means that if you are renting a living space and want to protect your TV, stereo system, desktop computer etc., you will need a renters insurance policy.  Most people incorrectly assume that a landlords insurance policy will cover you, in-case of a fire for instance however the landlord is only protecting their building, not your things within it.

So what exactly is covered with renter’s insurance?  Most policies will protect against these fifteen and ONLY these fifteen things:

1. Smoke
2. Fire or Lightning
3. Theft
4. Automobiles (If someone drives into your house or apartment)
5. Aircraft’s
6. Falling Objects
7. Riots
8. Windstorm or Hail
9. Volcanic Eruption
10. Weight of Ice, Snow or Sleet
11. Water Related Damage from Utilities
12. Electrical Surge Damage
13. Vandalism
14. Explosion
15. Damage from Glass

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