My Landlady has home owner's insurance on my rental. Should I take out renter's insurance?

Question

Other than for personal property, is rental insurance good for anything else?

Answer 1

Yes, liability.



And homeowners on the rental property, isn't necessarily going to give the landlord any COVERAGE.

So, say someone slips on your rug and breaks an ankle and sues you.  YOUR RENTER'S polciy will cover you.

Your landlord's policy will NEVER EVER EVER cover YOU.  It won't cover your STUFF.  

So if the place burns down, you lose EVERYTHING.  No coverage, unless you have renters insurance.

Hey, it's cheap - like $150 a year.  So it's silly to NOT buy it.

Answer 2

it's good for personal liability as well

Answer 3

Yes, you should - both liability and personal property.  Her insurance does not protect you.

Answer 4

It is always best to have renter's insurance to cover all the items you possess that are in the space you rent. Even though they may seem insignificant, do a quick audit of each item you possess, each article of clothing, jewelry, cameras, shoes, sporting goods,furniture, kitchen utensils and the amount to replace them will astound you.

Answer 5

Renter's insurance costs about a whopping 12 dollars a month for about 15K of coverage. If the house burnt to the ground your land lord would get a check covering the physical property itself and you'd get nothing, even though all your stuff was ruined.