Episode Details

You probably know that homeowners have home insurance to cover damage to their house and the contents inside. But what about people who rent apartments? After all, someone else might accidentally start a fire in one apartment that ends up burning down the whole apartment building.

In that case, you had nothing to do with the fire. That’s where renters insurance comes in.

Renters insurance is also called personal property or personal articles insurance. Since you don’t own the apartment, it isn’t insured by a renters policy. Only your possessions in the apartment are insured. This makes rental insurance extremely affordable.

Because the cost is so low, there’s really no reason not to insure your items. In case you’re wondering, the landlord has the building insured, which is not anything you need to worry about.

Read the full article here.