If you rent a house, apartment or condo you should definitely consider renter’s insurance. The landlord is usually never responsible for your personal possessions if there is a loss from theft or damage, such as flood or fire. Like homeowner’s insurance, it’s important to insure the replacement value of your possessions including furniture, clothes, jewelry, electronics, etc.

It’s also good to know what would happen if you have to live somewhere else temporarily. For example, what happens if there is a flood? Does your landlord provide temporary housing? If not, your renter’s insurance should cover that too.

Renter’s insurance also protects you from damage you cause. Let’s say you leave the stove on and it causes a small fire, resulting in $5000 damage. Since it was your fault (even though it was accidental), you are responsible for the damages. The idea of coughing up five grand is serious business. If you had renter’s insurance you’d only be responsible for the deductible – usually $250 – $1000, whichever you choose.

So, as with all insurance, renter’s insurance does 2 things. It pays to replace your stuff and it protects you from large, painful payments for damage you cause. If you want to know more about renter’s insurance contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.