Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
This question, in varying forms, I find to be pretty popular. The short answer is that unless your landlord or building owner requires you to have it as a condition of the lease agreement, then you don't.
Now, that having been said, why would you not want to have it to protect yourself and your personal property that you have worked and struggled so hard to obtain? Ask yourself these questions: Do I have $50,000 in the bank that would help me to buy all new stuff if I came home and found that everything I owned burned while I was at work? If not, would it make more sense to buy that protection for say only $250.00? Up to you.
That is a great question! Why would you need renters insurance? The answer is simple, to protect the investment that you have in your belongings, and to provide protection against lawsuits from someone who may be injured while in your home. The landlords insurance will not cover you; if something were to happen you are liable for the expense of replacing everything that is lost. That is a great reason for having insurance, especially since it is relatively inexpensive. Thanks for asking!
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Now, that having been said, why would you not want to have it to protect yourself and your personal property that you have worked and struggled so hard to obtain? Ask yourself these questions: Do I have $50,000 in the bank that would help me to buy all new stuff if I came home and found that everything I owned burned while I was at work? If not, would it make more sense to buy that protection for say only $250.00? Up to you.