Many tenants do not insure their homes because they think that the house belongs to the landlord. But experts say the opposite. According to experts, you have to ınsurance your home to protect yourself from natural disasters and stolen goods.

“Landlords strongly recommend—and in most cases, require—that their tenants purchase renters insurance,” according to Mike Mirandi, vice president of sales at TheGuarantors, a New York–based insurance company.

Here are 3 reasons for tenant insurance…

Renters insurance is cheap

Tenant insurance is cheaper than other insurance types. “The average renters insurance policy costs under $150 per year for $30,000 of property coverage and $100,000 of liability coverage,” Mirandi says. “This is a relatively small price to pay to ensure your personal belongings are protected.”

If you want to make tenant insurance you need to add it in the lease agreement.

Your landlord’s insurance won’t cover you

Your homeowner’s insurance does not cover your belongings in the face of a natural disaster.

“The truth is that a landlord’s coverage does not extend to the personal property of their tenants,” say Josh Sarnell, a licensed real estate salesperson at Citi Habitats in New York. “So, if your neighbor across the hall leaves a candle burning and a fire spreads and damages your home, replacing your electronics, clothes, and furniture is strictly your financial responsibility.”

It protects you against personal liability

It protects you from insurance against the responsibility of an animal or human being damaged in your home.“It would protect you against personal liability for the injury you cause to someone else because of negligence,” according to Hank Wilson, founder of Wilson Insurance and Financial Planning in Philadelphia.

For example, someone is fall in your house. You are responsible for this injury. The tenant insurance protects you from this situation.

“This would include your pets or even your children causing harm to someone due to negligence,” Wilson says. “Your renters policy would even provide coverage for damage you accidentally cause to someone else’s property elsewhere.”


Sevdenur Demir  /