Moving into your own place can be exciting. It’s easy to think that just because you’re renting, you don’t have to have insurance to protect your things, but the truth is, you need it more than ever. Things happen every day, and you want to make sure your valuables are protected just in case. A renters insurance policy can give you peace of mind while you’re away from home. 

What is Renters Insurance? 
Renters insurance covers your personal property that could otherwise be lost without compensation in the event of a fire, flood, theft or other unforeseen circumstance. The owner of your building is responsible for insuring their property, but is usually not responsible for your belongings while you reside there. 

What’s Covered under Renters Insurance? 
Renters insurance has a number of coverage options available to you. If you have expensive things, this will come in handy. Most renters insurance policies cover: 

• Personal property: Can you put a dollar value to all your belongings? Now, imagine an unforeseen circumstance where most of those things were damaged or gone. That’s a lot of money. This policy helps replace those items if you can, and compensates you for those you can’t.
• Liability: You may have a gathering at your home and someone is injured. Your renters insurance policy helps cover the costs of them getting medical attention, and helps pay your legal fees in the event they want to sue.
• Living expenses: If you were temporarily displaced due to a fire or some other disaster, a renters insurance policy can cover hotel bills, food and other living expenses while you are waiting to get back into your place, or searching for a new one.