Many people choose to rent their home instead of purchasing one. Renting comes with many conveniences. You are typically not responsible for landscaping and building maintenance, and the only paperwork usually involved in moving is filing an intent to leave. One thing you cannot leave up to your landlord, however, is your renters insurance. There are several reasons you need renters insurance in CT.
Just because your landlord has property insurance, that does not mean you don’t need renters insurance. A property policy only covers the building itself. Your belongings that are inside the building are not covered by the owner’s policy. Renters insurance is the only way to cover your assets.
Renters insurance can also offer you liability coverage if you were to be sued for damages. If, for example, a water leak damaged the floors in your apartment, the landlord may try to take legal action to get you to pay for it. Some renters insurance in CT can cover the associated costs of legal troubles.
There may come a time when you need to relocate quickly. If a natural disaster makes the building where you live uninhabitable, renters insurance may also cover temporary housing until you can return home or find a new place to live.
Don’t assume that your landlord’s insurance covers everything. Insurance is designed to protect the policy owner. Purchasing renters insurance is the way to protect yourself.