Even though your landlord probably has an insurance policy on your building, you’ll need to protect your personal interests, too.In fact, renters have a higher likelihood of theft and burglary than home owners.According to the Bureau of Justice 2005 Statistics:
- Renters are 52.6% more likely to be burglarized than homeowners
- Renters are 118% more likely to experience motor vehicle theft
- Renters are 33.5% more likely to experience a theft than homeowners
It may only cost a little to protect a lot.Renter’s insurance may be less costly than you might think.While coverage’s may vary by state and individual qualifications, here’s what a typical Allstate renters’ policy covers:
Your Property:For covered losses, this protects your personal property if its destroyed or damaged by the following: Fire, lightning, falling objects, smoke, explosion, wind and hail, water damage from plumbing, steam or water heating systems, and vandalism / riots.
Theft:Your personal property is also protected against loss from theft, including: theft on premises (in your home) theft off premises (away from your home), stolen or forged checks, and stolen credit cards / counterfeit money.
Family Liability and Guest Medical Expenses: This protects you for covered losses if you’re held legally responsible for damage to someone else’s property, or if a guest is accidentally injured in your homeYour Living Expenses:If your apartment is damaged and you are unable to live in it, Allstate will help pay additional living expenses incurred due to a covered loss, until your place is habitable, up to the amount of time specified in your policy.