Renters Insurance Washington DC

by Broderick Perkins
© 2007 DeadlineNews.Com

Deadline Newsroom – Refugees from home ownership now forced to rent could be setting themselves up for another financial disaster if they avoid renter's insurance to pinch pennies in order to quickly save up and return to home ownership.

All renters should have an insurance policy to cover their possessions because, should a disaster hit home, the cost to replace those items will put home ownership that much further out of reach.

But that's not all.

If you are held responsible for an injury to someone in your home or someone's property in your home, without the liability coverage provision of a renter's policy, your current and future earnings could be at risk. You'll also have to foot the bill for any legal defense you could need.

A renter's policy can also put a temporary roof over your head while damage to your rental home is corrected. Policies come with some limits but typically cover the difference between your additional living expenses and your normal living expenses.

Unfortunately, most renters, 58 percent, don't bother to buy renters insurance, according to an Apartments.com survey. ...

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