Renter's insurance is one of the cheapest policies, and covers so much! If you own two or more cars, your auto insurance would go down as much as a basic renters would cost! Two policies for one. Here's an article that explains more about what renters is:
... woman was shocked when she discovered the landlord's insurance didn't cover her personal property. And the .. tenant who placed the boxes in the hallway was slapped with a major liability lawsuit.
There's no question but that landlords are responsible for losses arising out of owners' negligence. Renters, however, are responsible for the financial burden of losses created by their own negligence.
"All too often, renters don't understand that they're responsible if they start a grease fire in a kitchen," said Jim Potter, regional sales director at American Banker's Insurance Group in Santa Ana. "They're responsible not only for their unit, but for the unit next door and any others that are damaged."
Many renters don't know that renter's insurance exist. Others simply just never get around to buying the insurance or opt to take their chances that mishaps will swerve around them.
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