You may think that you don’t have anything worth insuring, but look again. How much would it cost to replace that laptop? Or flat-screen TV? Or Smartphone? Even the little things can add up to thousands of dollars. Start listing your possessions, and you’ll quickly find that they’re worth insuring. In fact, apartment residents report burglaries more frequently than people living in houses.
Many renters don’t have insurance because they don’t know what it is and why they need it. Also, because they think it will cost a fortune. Renter’s insurance is much cheaper than homeowner’s insurance. Why? Because homeowners insurance is insuring the cost of the building and its belongings. While renters insurance is just ensuring the cost of the stuff inside the building. While it’s really a personal decision, getting renter’s insurance is the best protection for your possessions and potential liability.