No one will require you to maintain Renters Insurance other than a current or future landlord but certainly good judgment would suggest this type of coverage be considered.
Typical Renters or Tenant/homeowners policies provide coverage in three principal areas;
They cover damage to your personal property (clothing, furniture and/or household items),
Additional living expenses you might incur while occupying temporary living quarters should your apartment or building be damaged or destroyed by a fire, wind or some other covered cause and
Your Personal Liability should certain acts cause injury or damage to someone, possibly your neighbors or even the building you occupy.
Anyone responsible for maintaining a household should at least consider securing this type of coverage. It beats digging into your savings after a storm or fire or waiting for the Red Cross to give you a shirt, a cot or a hot meal.
The cost for a basic policy would be in the $150-200 per year range. This type of coverage should be considered as important as maintaining comprehensive and collision insurance on your car. In fact, simply increasing your deductibles on your car insurance may reduce your premiums enough to permit you to secure a basic policy.
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Typical Renters or Tenant/homeowners policies provide coverage in three principal areas;
They cover damage to your personal property (clothing, furniture and/or household items),
Additional living expenses you might incur while occupying temporary living quarters should your apartment or building be damaged or destroyed by a fire, wind or some other covered cause and
Your Personal Liability should certain acts cause injury or damage to someone, possibly your neighbors or even the building you occupy.
Anyone responsible for maintaining a household should at least consider securing this type of coverage. It beats digging into your savings after a storm or fire or waiting for the Red Cross to give you a shirt, a cot or a hot meal.
The cost for a basic policy would be in the $150-200 per year range. This type of coverage should be considered as important as maintaining comprehensive and collision insurance on your car. In fact, simply increasing your deductibles on your car insurance may reduce your premiums enough to permit you to secure a basic policy.