A renters policy (also called a tenants policy) is an inexpensive way to insure your belongings and your personal liability.  It’s a type of homeowner’s insurance, just without coverage for the building itself.

The first part of the policy covers your personal property: furniture, clothes, electronics, etc.  Most companies provide at least some coverage for these items off premises as well.  Coverage typically includes fire, theft, windstorm, and water damage among other perils.  (Your landlord’s insurance does not cover your belongings, and usually the landlord is not responsible for loss or damage.)

The second part of the policy cover your personal liability if you are sued.  This protects you if someone gets hurt at your apartment, but it also covers you for your personal activities elsewhere.  For instance, you would be covered if you hurt someone playing softball, or if you hit a golf ball through a window.

The best news is that renter’s insurance is really inexpensive.  A policy for someone just starting out would be in the $100 range.  You will also save on your auto insurance, typically 10%, if you put your renters coverage with the same company (which often offsets half or more of the cost of the renter’s coverage!).

Drop me an email (chris@albionagencies.net) if you would like a quick quote.

For more information, drop by our website at www.albionagencies.com, or get in touch with me.

The information in this post is general in nature, and geared toward insurance conditions in Western New York.  As always, you should speak with an insurance adviser to determine your specific insurance needs.