Let’s face it, everyone is not interested in buying a home. Some people love the freedom of not having to worry about repairs, taxes and property upkeep, so they are perfectly fine renting their home. The downside to renting is that most renters do not have rental insurance, so if something were to happen to the property that is being rented, the renter will lose everything and have to start all the way over; without any financial assistance from anyone. This is definitely not a good feeling. Not only have you lost your home, you have lost all of your belongings. This feeling of hopelessness can be alleviated with an inexpensive thing called RENTERS INSURANCE. 

At the most basic level, renters insurance is a type of insurance that covers your personal property. If someone were to break into your rental home or apartment and steal all of your belongings, your landlord is not responsible. However, if you have renters insurance, it would cover the cost of replacing the stolen items and with the right renters policy, damage to your belongings resulting from fire, vandalism and other disasters could also be covered. 

Not only will renters insurance cover whats inside your home, it will also cover your items even when they are not in your home. For example, if your beloved bicycle is damaged or stolen from your car after a day of cycling, your renters insurance will reimburse you for it if the bike is stolen from your car while it was parked in front of your favorite coffeehouse. The amount that you get reimbursed will be dependent upon the type of rental insurance policy you have.

While renters insurance covers a lot of things, the majority of it will be based on what type of coverage you have. Therefore it is important to know what policy limits and coverage limits best suit you and your situation. The best way to know what type of policy you need is to check with your insurance provider.