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Why Tenants Need Their Own Insurance Policy

If you go through your belongings you would be surprised at how quickly the value adds up.

When renting a small apartment, you might be at a stage in life where you think that you can’t afford renter’s insurance. One of the reasons that so many people don’t get renters insurance is that they assume their landlord’s insurance policy is enough. But when you look at the things your landlord’s insurance doesn’t cover, then you’ll see that you can’t afford to not have renter’s insurance.


Generally, your landlord’s insurance policy covers any damages, repairs, or upgrades to the structure and appliances in your apartment. But if you choose to add or change anything, chances are it will not be covered. If you install new shelving in the pantry, for example, and it’s lost in a fire, your landlord’s insurance will not pay for it.

Theft and Damages

Apartments, unlike houses, are considered a lot less valuable. They often contain basic necessities. Renters might assume that nothing in their apartment is worth insuring. But if you go through your belongings you would be surprised at how quickly the value adds up on things like electronics and small appliances. Likewise, you don’t want to assume that you’ll be careful to avoid paying for any accidents that damage your apartment. Even the most careful person can break a window if they bump into a tall lamp at just the right angle. Renter’s insurance will give you peace of mind.

Living Expenses

Another thing many renters don’t consider is the costs accommodations if they have to relocate from their apartment. If your apartment had a flood, fire, termites, or any other major incident that forced you to move out while the landlord arranged for repairs then you could be paying out of pocket for your living expenses. One of the benefits of most renter’s insurance policies is that they will cover the cost of your living expenses.

Get in Touch with Wachter Insurance

Whether you need renters insurance, business insurance, homeowners’ insurance or auto insurance, our team at Wachter Insurance Agency, Inc. is here to help. We give our clients competitive rates, professional customer service, and a vast range of policies to choose from for your needs. We have been serving Maryland, West Virginia, Virginia, Pennsylvania, and the District of Columbia since 1969 and we would love to help keep your home and family safe every day of the year. For more information, call us at (301) 371-6335 or visit us online. For more blogs like these, follow us on Facebook, Google+, Twitter, and Pinterest.

This entry was posted on Monday, April 1st, 2019 at 9:25 am. Both comments and pings are currently closed.