If you rent your apartment or house, tenant’s insurance is available to help you replace your belongings after a loss due to theft, fire or water damage. Tenant insurance also helps to protect you against liability and negligence claims should you be responsible for causing the damage.

You should consider Tenant’s Insurance

Have you ever imagined the actual costs it would take to replace all of the items you own at once due to fire or certain types of water damage? How would you pay for any necessary expenses while your apartment is being repaired, such as hotel bills, restaurant meals and moving costs? And did you know that tenants are responsible for the harm they cause to any part of their building and to others who live or visit there?

Discover More — Top 3 Reasons to get Tenant Insurance

How much does Tenant’s Insurance Cost?

The cost of tenant’s insurance depends on many things including the location of your home, how your home was constructed, and which insurance company you choose. The value of your contents also determines the cost of your tenant’s insurance. The more you own, the more coverage you will need to replace those contents.

When you compare how much you could lose if you don’t have insurance, the cost of tenant’s insurance is very small. Insurance should be part of your budget, like the cost of food and shelter.

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How is Tenant’s Insurance different from Homeowner’s Insurance?

Homeowner’s insurance and tenant’s insurance are similar, but with one big difference. A homeowner’s insurance policy also provides insurance coverage for the house and its attachments (such as a garage or shed). Like homeowners’ insurance, tenant insurance includes coverage for additional living expenses, liability and personal belongings.

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