What is Renters Insurance and Why Do You Need It?

Are you renting a home, condo, or apartment? Do you own a computer, clothing, and other personal belongings? If so, then you need to know the answer to, what is renters insurance? There is a reason why you need to know this and you need to have renters insurance. Here is the answer and what you need to know.First, imagine this for a moment…..Your neighbor falls asleep while leaving the stove on and it catches fire. By the time this neighbor awakes to see the fire it is way to large for him to put it out. This fire spreads as the neighbor flees and calls 9-1-1. By the time the fire trucks get there this fire has already made it next door into your home.The firefighters are able to put the fire out, but not before your home is destroyed along with all the belongings inside. Since you do not own the home none of your personal belongings are covered by the home insurance and you are stuck with no place to live and all of your stuff is gone.Now, your landlord may be nice and put you up in another unit or a hotel for a little while, but that will not last forever and you still have to replace all of your things.If you had renters insurance you would have no worries. It only cost you a couple hundred dollars a year for around $20,000 worth of coverage and if your things are destroyed they cut you a check to cover what you lost in the fire. This is great because it will help you get back on your feet much faster and you do not have to worry about what you would do in this type of situation.

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