Rather, when a property owner purchases insurance for their rental properties it covers the basics - that means the property itself and not what resides within it. She also told me that only two people suffering a loss had renters insurance. A good renters package can provide protection for these risks. It is very unfortunate when renters have losses without insurance protection. For example taking pictures or a video of your property, saving receipts for expensive items, and possibly making an inventory of your property. (I have a deductible as well, just like any other insurance). For example if another person has a slip and fall on your wet floor, a pet bites someone, etc. For instance, if you are the victim of a fire caused by lightening, a windstorm, a hail storm, an explosion, a civil upset, vandalism, theft, or water damage, you may be able to collect on any policy that you have that is active. Liability coverage may also be included in a renter’s policy. The odds that something will destroy my apartment from my own hands is slim to none. The first thing that one needs to keep in mind when thinking about rental insurance is that just because a property owner has insurance on his or her building or buildings it does not mean that your valuables will be protected through the owner's insurance. The odds of something happening to my apartment from my neighbors probably is slim to none, but who knows? You and I may have extremely irresponsible neighbors. The cost is so low there is no good reason not to have a renter’s policy in my opinion. A good renters package can provide protection for these risks. This may be slightly discounted because I get my auto insurance through them as well. Liability coverage may also be included in a renter’s policy. We give our auto insurance customers a auto/renters discount that is usually $10 to $20 per month. This can save you up to 15% on your yearly premium. You pay a small amount per month, and in return the insurance company offers to pay you X number of dollars if your apartment is destroyed. As an insurance agent I find that this is coverage that many customers overlook. Texas residents are invited to call my Houston renters insurance office for additional information at 281-537-2700. That would easily replace everything in my apartment, and then some. Let's take a look at the benefits derived from purchasing renters insurance. Nevertheless, most policies will cover your valuables in the event that certain acts of God cause the destruction of your property. You may want to shop a couple reputable places to compare coverages and price. Usually this means that your insurance will pay rent for another property while your original property is repaired, or until you relocate to a permanent home. The cost is so low there is no good reason not to have a renter’s policy in my opinion. The first thing that one needs to keep in mind when thinking about rental insurance is that just because a property owner has insurance on his or her building or buildings it does not mean that your valuables will be protected through the owner's insurance. At FindRentals.net we provide you with articles and information to help you on your way to finding apartment, vacation, condo, and timeshare rentals. Conversely, without insurance you may find yourself in quite a bind. 4) It is quick and easy to get a renters policy.