Renters Insurance

Renters Need Renter’s Insurance

If you rent, you need renter's insurance. Renters Insurance is for those who rent apartments, condos and houses. Renters Insurance is necessary because as a renter, you are responsible if there is a fire, theft or other catastrophe. Your landlord may have insurance to protect the building you live in but your landlord’s policy will not replace any of your personal belongings or pay for any living expenses while the building is under repair. Also, in the case that the neighbor above, floods you out because they forgot to turn off the tub, means that you’re mostly “out of luck” because any of your personal belongings that were damaged, are not subject to protection…unless you have renters insurance.

The City of Chicago is chock-full of older apartments. Many of these apartments are over 100 years old. A lot of them hide secrets behind their newer walls-old pipes, old wiring...old, old stuff. As a renter, you are, what is in Latin, “caveat emptor”-let the buyer beware. In this case, let the renter “beware”.