I'm moving into a new apartment now that I'm out of college. I don’t have a lot of expensive stuff but someone told me I should get renters insurance. Do I really need it?
Renters insurance is a very inexpensive and important way to protect yourself from life's uncertainties. While many people first starting out feel that they don't have much "stuff", I encourage customers to think about the cost to replace everything that they have (clothing, furniture, electronics, etc.), all at one time, in the event of a fire or other major catastrophe.
Many renters believe that their landlord would provide coverage for their belongings but I have to explain that this is not the case. Most renters policies cost as little as $10 - $12/ month - comparable to the price of a fast food meal.
Renters insurance typically includes 3 main coverages. 1) Protection for your belongings 2) Liability Protection and 3) Additional Living Expenses. Each of these coverages can protect you from both short and long-term financial hardships.