Issue link: https://nest.uberflip.com/i/1069331
hile moving into a new place can be a chore in itself, don't forget to make sure you have the coverage and protection you might need in case of an emergency. Renter's Insurance might not be the "sexy" purchase you have been saving for, or the latest "must have" on the tech list, but as with most insurance policies you will be glad you have it when you need it. By doing a little research you will be able to understand what is needed for your indi- vidual situation and what in the short and long run it i worth to you from a monetary/ protection point of view. Why do I need renter's insurance? Most apartment complexes and landlords only have insurance that covers the dam- age to the actual dwelling, which leaves everything of yours—electronics, furniture, RENTER'S INSURANCE clothes, whatever—vulnerable. So, to pro- tect your belongings in case of fire, theft, or damage, you need your own policy, called an HO4 or renter's insurance policy. (Unless, of course, you have the funds to replace everything yourself!) You also need liability coverage for dam- ages caused by negligence. For instance, if you accidentally leave the kitchen sink on and it overflows into your neighbors' apart- ment, you could be found liable for that damage—and required to pay for repairs, medical bills related to the accident, as well as defense costs if they bring a suit against you. Renter's insurance would cover those costs. No, none of this is fun to think about, but believe me—it's a lot easier to plan (and pay) for it before it actually happens. 101