These are the opinions of writers and not the opinions of SwampRentals.com or any of our advertising partners.
Similar to homeowners' insurance, renters' insurance is an insurance policy for individuals renting a property. While it does not cover the actual apartment, it does include your personal belongings. So, say you were moving furniture and accidentally scraped up the wooden floors. Because this is part of the property, it is not covered in your insurance. The cost for damages will most likely come out of your security deposit.
But what if your personal items are damaged? If a fire were to break out or if you found yourself a victim of theft, renters insurance would be your form of protection. Renters' insurance provides coverage for damage from natural disasters, theft, injuries and more.
Renters' insurance is fairly inexpensive. While some apartment communities may not require you to have renters' insurance, it is always a good idea to get it.