As a Renter in Florida, Should I Have Renters Insurance?

The Insurance Information Institute reports only about 31% of renters nationwide have renter’s insurance. Many people have never heard of it, think they don’t need it or simply hope nothing will happen to them. In our office alone, we know two families who lost everything they owned when their rented house or apartment burned because they were not insured.

When you rent a house or apartment the landlord will have a type of home owners policy which will protect them and the property; it will pay you nothing in the event of a loss. Renters insurance is cheap and will give you essentially the same protection you would have with homeowner’s insurance if you owned the property.

Here are the Things to Look for with a Renters Insurance Policy:

  • Personal property protection. This covers everything  you own in your apartment or house (except cars or boats.) Imagine what it would cost you to replace all your possessions after a fire; furniture and furnishings, appliances, clothing, gear, and more. It even protects your things lost or stolen while traveling.
     
  • Personal liability protection. Liability insurance covers you if you accidentally hurt someone on or off your rented apartment or house. That’s right, it follows you wherever you go and protects you if you injure someone while riding your bicycle or when your kid hits a rock through a neighbor’s window.
     
  • Emergency living expenses. When disaster happens the last thing you need to worry about is how to pay for a place to stay while your house or apartment is repaired or rebuilt. These kinds of expenses can be part of a renter’s policy.

Although several companies also offer it, Allstate represents online this type of policy costs as little as $15 per month. If you aren’t covered, now is the time to do something about it.

Jim Dodson
A Florida injury lawyer, family man and avid cyclist who clients have trusted for over 25 years.