Accidents Happen: 3 Scary Situations Your Landlord Won’t Cover

You might pride yourself on being responsible, clean and careful when it comes to taking care of your living space. But a lot can happen that’s out of your control, which could affect you and your belongings.

Here are three scenarios where renters insurance comes in handy.

1. Someone Breaks Into Your Apartment

Even if you always remember to keep your apartment doors and windows locked and secure, there’s no guarantee that your roommate will do the same. Break-ins can happen.

If you have renters insurance, though, the cost to replace your belongings, or repair your space if it’s vandalized, is covered. Renters insurance policies will cover the current market value of the property, or how much it’s worth given the condition today. If you choose to purchase additional replacement cost insurance as part of your renters insurance policy, you may be covered to replace the stolen items with brand new ones.

2. There’s a Fire in Your Building

You might take all the necessary precautions when it comes to handling your kitchen and other appliances, lighting candles and even changing the batteries in your smoke detector regularly. It’s scary to think about a potential fire in your building, but it can happen if one of your neighbors isn’t so careful, or due to electrical issues your landlord or management company might not be aware of.

If there’s a fire and it causes damage to your belongings, renters insurance can protect your personal property, like clothing, furniture and other items. If you need to vacate the property for an extended period of time, you may also receive coverage for temporary lodging, depending on your policy.

3. Your Visitor Is Injured

When you invite people over to your place, you’re probably focused on being a good host and making sure everyone has a good time — not thinking that someone could have an accident, trip and fall or otherwise injure themselves at your rental property. While you probably hope this would never happen to you, your guest might be inclined to ask you to cover their medical bills, or even decide to file a lawsuit against you. If they choose to file a bodily injury lawsuit, the personal liability protection in your renters insurance policy would likely cover these medical and legal costs for you.

Renters insurance can help put you in control over situations that are out of your control — and it’s an easy and inexpensive way to cover your personal belongings and provide you with liability coverage.