Minneapolis, MN (PressExposure) January 08, 2010 -- Renters insurance is an important policy to have in order to protect an individualâs valuables and belongings. This insurance option has been around for quite a long period time. Renters insurance falls under the category of home insurance. This insurance option is not typically considered by many because it is dominated by the homeowners insurance.
Legally, the homeowner, or landlord, must insure their property with a home insurance policy, which covers any damage that may cause to the home or the property. However, this does not cover the personal property of renters. The residents are no way benefitted by the home insurance policy and must have a separate renters insurance policy to insure their belongings. Renters insurance covers the liability and the personal belongings of the resident. Although renters insurance policies are highly recommended and required in some lease agreements by landlords, they are not required by law.
With the current economic conditions, many people cannot afford to take financial risks. Many may decide to drop or not purchase a renters insurance policy to save money each month. But with renters insurance policies typically costing around $10 a month, this may be a in poor judgment. Renters should take inventory of every item in their home and consider how much it is worth â including iPods, computers, televisions, dvd players, stereo systems, clothing, jewelry, furniture, appliances, etc. In addition, renters insurance policies can covers cost of injuries or legal fees if someone is injured in the renters home.
A comprehensive renters insurance policy will replace a policy holders belongings from fire, theft, natural disasters, earthquakes and more. RentersInsurance.net recommends tenants of a house, condo, apartment or flat purchase renters insurance. Renters can quickly and easily find low cost and comprehensive renters insurance policies by shopping online.