The Reason You Need Renters Insurance — Wherever You Live - video Dailymotion

PennyGem’s Elizabeth Keatinge tells us why, for this reason, you may need renters insurance.

Transcript

00:00you have a lot of items you love around your home right well what would happen if there was a fire

00:10or flood all your favorite things were destroyed according to one expert who spoke to nerd wallet

00:16your landlord's insurance probably isn't going to cover that yale wisner levy vice president of

00:22communications at the insurance company lemonade told the site that quote many renters believe

00:27that since their landlord has insurance it covers damage to their property unquote this isn't

00:33necessarily true a standard renter's insurance policy covers up to one hundred thousand dollars

00:39in liability like say if you're sued for letting the bathtub run over and flooding the apartment

00:44below you oops renter's insurance can also pay for housing after a disaster or even things that

00:50happen away from home like your dog biting someone forbes explains that personal property coverage

00:56can cover you in case of problems like an explosion freezing smoke vandalism theft and even riots

01:04renter's insurance may be less than you think according to nerd wallet the average cost of

01:09renter's insurance is 14 bucks a month