If you are living in a rented facility or apartment, you need to have a renter's insurance.
Though your landlord or the condominium association has home insurance, it covers only the building.
The protection of your belongings is not included in the coverage.
So you really have to get your own coverage.
There are different types of policies available to home renters.
But you need to understand that the basic policies would cover you from the following: 1.
Storm damage.
2.
Wind damage 3.
Vandalism 4.
Civil unrest 5.
Vehicle damage 6.
Theft 7.
Smoke damage 8.
Aircraft damage Natural disasters are not predictable and because of this, you need to be very prepared for them.
When your belongings are damaged or destroyed in the event of any of these natural disasters, your renter's insurance would help you recoup your losses.
Most renter's insurance also covers damages as a result of other factors like water related damages (faulty plumbing) or electrical surge.
Home renter's insurance has the following on their exclusion list: oDamage caused by hurricanes o Damage caused byearthquakes oDamage caused by flood.
If you live in an area that is prone to flood, hurricane or earthquakes, you should buy an insurance rider or a separate cover for these occurrences.
In case you are still thinking that renter's insurance is not a necessity, imagine that a hurricane hits your area and your apartment building is affected and your belongings are destroyed in the process.
Not only do you not have a roof over your head, you are also bereft of your belongings.
The landlord's home insurance would help him recover his building but where does that leave you?