There are all sorts of reasons people refuse to buy renters insurance--let alone regularly compare renters insurance quotes.
A common one is that they believe that their landlord's insurance covers them, their possessions, and their liability (in the event a friend or family member is injured while visiting their apartment or rental home, for example). Another is that they think they don't own very much--or they think they don't own enough to make the renters insurance rates they’re going to have to pay worth their while. So, they don't get a renters insurance comparison.
Renters insurance is a way for people that rent apartments or lease their homes to protect their belongings.
In reality, your landlord's insurance only covers the building structure--the walls that surround you and your belongings, basically. Your personal property is not included in its protections.
So, if your possessions are stolen or are destroyed by fire, water damage, or other similar disasters, or if someone is hurt while in your apartment or rental home, you're going to be on your own if you haven’t invested in a renters insurance policy.
Renters insurance also covers the contents of your car including aftermarket stereo equipment, laptops, purses, wallets, and other valuables in the event of theft or other loss. That's because renters insurance protects your belongings wherever they happen to be whether they're in your car, apartment, or even a storage unit!
The good news is that even the best renters insurance premiums are inexpensive and still provide tens of thousands of dollars’ worth of coverage for your belongings and liability. Special “floaters” can help you protect items worth more than $1,000 like your new big screen HDTV.
Even better news: as cheap as renters insurance rates tend to be, they can be made even more affordable if they’re bundled with other forms of insurance like car, home, and life. Get a fast, free renters insurance quote from multiple companies, compare prices, and see how easy it can be to protect your property.