As you recall, when we covered home insurance there was on called an HO4-policy (Renter’s Insurance). This was created specifically for those who rent the home they live in. It covers a policyholder’s belongings against the 16 perils. It provides personal liability coverage for damage the policyholder or dependents may cause to third parties.
It protects your possessions inside the apartment, condo, townhome, or home you are renting. Just because the landlord has home insurance do not assume that your stuff is protected. It is not. The landlord’s insurance will pay to rebuild the home. It covers the landlord’s losses and not your losses. You have to protect your stuff.
This coverage is very inexpensive. If you are a renter, you need to obtain this coverage today. Only 35% of renter’s buy renter’s insurance. Don’t be one of the 65%. If there is a fire, theft, or other calamity, you are going to be out in the cold.