Renters insurance offers important coverages that protect you in the event of a claim that your landlord’s policy will not cover. A landlord’s insurance policy protects only their liability and what they own. Renters insurance is designed primarily to cover tenants’ personal property and liability.
If your action causes serious injury to someone or damage to their property, you could be held liable for their losses and expenses. For example, forgetting a lit candle can cause a big fire. The tenant could be held legally responsible for the damage, which most renters policies would cover under the liability clause.
Another type of claim often reported is when a dog injures someone else. If your landlord allows you to have pets, be sure to review your renters policy for information about this coverage since some breeds are excluded.
If there is a storm and your belongings are destroyed, it is unlikely the landlord’s insurance will help you, but a good renters policy will. And for all they cover, they are surprisingly affordable. Ask your agent for recommendations so you are protected while you rent.