Best Renters Insurance Companies of 2020
While homeowners often are required by their lender to have homeowners insurance, many renters are under no such constraints. Renters insurance is neither mandated by law nor demanded by every landlord.
Yet just as driving a car responsibly requires insurance, it’s a good idea to insure your possessions in your rental property from being damaged or destroyed in a fire or other unforeseen event. And thanks to companies with online and mobile options, it’s easier than ever to find a policy to fit your budget.
“Renters insurance can be surprisingly affordable, though it does pay to shop around,” says Eric Cioppa, president of the National Association of Insurance Commissioners (NAIC) and superintendent of the Maine Bureau of Insurance. He says that a landlord’s insurance doesn’t cover tenants’ personal property, so they are well-advised to take out their own insurance policies. But according to a