• Your landlord’s insurance does not cover your personal property. The landlord is not responsible for your belongings; you are. You will need to get renters insurance to cover theft, loss, or damage of your personal belongings.
• Contact several insurance agents and compare costs. Renter’s insurance is surprisingly affordable. A policy may cost approximately $120-$240 per year. Check whether discounts are available.
• If a landlord’s negligence causes damage to your property, you may have a claim against the landlord. But you might be faced with filing a lawsuit, proving the negligence and then collecting on the judgment. This is very difficult to do, especially if you are still living in the property or have limited resources. If you have renters insurance and the insurance company has evidence that someone else is responsible for the damages, they can hire an attorney and sue that party. But you still get your property repaired or replaced in a timely way by the insurance company.