When you own your own home, you're required to have a home owner's insurance policy to cover any damage that occurs to your dwelling and all of your belongings.
When you are a renter, you're under the same basic obligation.
Just because someone else owns the building you're living in, does not mean that they are legally or financially obligated to take care of damage or destruction.
Renter's insurance is a must for anyone who rents a property.
The importance of renters insurance doesn't always seem to grab the attention of those who are signing a rental agreement, even though it's spelled out in black and white on paper.
Many of us carelessly toss of the fact that something could happen and we'd be left with nothing if we don't get coverage.
If you live in any type of rental property where you are not the owner, you've got to get renters insurance.
It is a legal requirement in many states, although it's not frequently a subject that is enforced with renters.
Once you sign your name on the dotted line on a rental agreement, you're bound to all of the terms within, including the necessity to have a renter's insurance policy.
Most of the time, it's only when we're left standing in the shambles of what we called home that we feel the heart break and consequences of not having renters insurance.
Imagine a storm coming along and ripping the roof off of your dwelling, pouring feet of rain in your home.
Everything would be destroyed.
Regardless of where you live, if you don't own it, you've just lost everything and you won't get a penny from the owner of the property.
Anytime you rent a property, make sure that the things you love the most are protected from fire, weather related damages or theft.
Make sure you understand the importance of renters insurance before it's too late and you become a statistic.