Renters, here’s why you need insurance

While your landlord’s insurance policy would cover any losses to the building itself if something should happen, you’re responsible for your personal property.

It might be easy to sweep the thought of renters insurance under the rug, but underestimating the value of your belongings just might be your biggest mistake. It’s better to be prepared than to have your baseball card collection, laptop or high-end sneakers pay the price after a fire or break-in.

Luckily, protecting your property and your finances as a renter doesn’t have to wreak havoc on your budget. With Lemonade you can get renters insurance starting at $5/month and enjoy the peace of mind their protection provides.

Is renters insurance actually worth it?

While it is up to your landlord to decide whether renters insurance is formally required, anyone would benefit from it. It’s one of the easiest ways to be prepared for unforeseen events.

Renters insurance will cushion the financial impact that property damage, personal liabilities or loss of use could have, so why not save your future self the strife?

With Lemonade, signing up for renters insurance is simple and fast. All you have to do is provide some information about yourself and the place you rent and they’ll provide you with your personalized policy and quote.

What does renters insurance cover?

Renters insurance from Lemonade offers coverage in three main categories:

• Personal property
• Temporary living expenses
• Personal liability coverage and medical bills

If any of your valuables are lost or damaged due to situations such as kitchen fires, windstorms, or vandalism, your policy will help you recover the cost. Additionally, if your rented home becomes unlivable and you have to camp out in a hotel for a time, cost of living expenses during that period will also be covered.

Say a passerby slips on a patch of ice on your property and injures their leg? Believe it or not, the medical (or legal) expenses incurred will be covered too.