A Guide to Renters Insurance

Belongings in Apartment - Renters Insurance

A little about Renters Insurance: When renting, many people correctly assume that it is the landlord’s responsibility to insure the building and make repairs if necessary.

This might be the case. However, as a tenant, your landlord’s insurance will not cover your own belongings, or other events that might happen to the building while you are a resident.


What is Renters Insurance?

Renters insurance (or tenants insurance) covers your belongings. It provides coverage when you’re living in property that you do not own. This kind of insurance operates in a similar fashion to homeowners insurance, providing coverage for many of the same situations. This includes flooding, fire, or theft. It is often more affordable than homeowners insurance, since it is covering your belongings and not the building itself.

Some landlords require renters insurance, but it is not always the case. Even if your landlord does not require renters insurance, you should still have a policy. It is a smart and affordable investment that could prevent you from paying out-of-pocket to replace everything you own. From phones, TVs and laptops to furniture and jewelry, renters insurance generally covers everything.


Knowing Your Coverage is Important!

You should make sure you have enough insurance to cover all of your possessions in case there is a total loss. Unfortunately, many people undervalue the total value of their possessions by forgetting to include items such as laptops, phones, jewelry, and furniture.

(Side note: At R&G Insurance, we make this simple. We guide you through a quick calculation of your possessions, where we ask about things people often miss. If you go with us, we will make sure you get the right coverage at the best price.)


Is this going to be expensive?

One of the biggest misconceptions about renters insurance is that it is expensive. This is almost certainly not the case! It can cost as little as $5 a month! Speak to an agent today to see if renters insurance is the right move for you.


R&G Insurance Associates is an independently owned and operated insurance company with 5 offices located around Maryland. We pride ourselves on offering a high level of service where clients feel like family. Come visit us at any of our five locations in Rockville, Glen Burnie, Prince Frederick, Lexington Park, and Manchester MD.