Renter’s Insurance provides coverage for a policy holder’s belongings as well as liability within the rental property. Renter’s insurance applies to people renting or subletting a single family home, apartment, duplex, condo, studio, loft or townhome. Your landlord or condo association may have insurance, but it only protects the building structure, not your personal items.
Imagine losing all your furniture, clothes and other belongings in a fire or other disaster. Renter’s insurance, like homeowner’s insurance, is meant to rescue you at these times of disaster. Yet only 37 percent of renters have insurance, according to the Insurance Information Institute.