Do you require Renters Insurance?
It is STRONGLY recommended that all residents have a renters insurance policy to cover themselves and their personal property. The owner’s insurance only covers the property itself. None of your personal property is covered. For example, if a water pipe were to break and flood your home, the owner’s insurance would cover the damage to the home, but would not pay for any damage or loss to your personal property. Additionally, if you were to accidentally cause damage (fire, flood, etc.) the home owner’s insurance would pay to have the home repaired. However, it is possible that the home owner’s insurance company would look to recoup their loss through subrogation. In other words, they might sue you for financial damages. If you have a renters insurance policy your carrier would likely defend you in this situation. Renters insurance is generally very inexpensive, and it is STRONGLY recommended that you have a policy. Dwell Well Realty Services has a Tenant Liability Insurance option for you that can be paid with your monthly rent and is a minimal cost to you.