Do I need renter's insurance? I'm renting a house.?

Question

My boyfriend thinks it's a waste. My parents say that I need it. Thanks!

Answer 1

I think you should consider insuring and as well personal liabilities for the house n furniture

Answer 2

Renter's insurance is designed to cover the loss of your belongings in case of a fire or other calamity. The owner of the dwelling will have a policy that covers only the loss of the structure, not your belongings.  Unless you can afford to replace your furniture, appliances, and other belongs out of pocket then I say, yes, you need renter's insurance.

Answer 3

For those who rent, renters insurance covers damage to or loss of your personal property. Whether you rent from a house owner, a property manager, or a university (as a student living in a dorm), consider what your parents say -- especially if you have nice stuff (like TVs, video games, PCs, iPods, jewelry, furniture).

Landlords insure the physical apartment building against damage from occurrences such as fire, hail, and vandalism. But their insurance policy does not cover your belongings, so don't expect the landlord to owe you payment should anything happen. Another reason to get renters insurance is to protect yourself against any accidents caused by other tenants.

Renters insurance can also protect against liability lawsuits or medical bills of guests injured in your apartment.

Some landlords require you to purchase renters insurance. If so, this would be stipulated in your lease or lease riders.