When an unexpected catastrophe strikes, whether that’s a fire, severe weather, falling objects, or a break-in, a landlord is only responsible for fixing the structure of the building where a tenant lives. Replacement of any of their personal property that’s stolen, damaged, or destroyed is their responsibility. Renters insurance can make it easy to get the funds needed to start again after a loss.
There are other benefits built in to renters insurance that extend beyond replacing belongings. Some policies may provide coverage for fraudulent credit card charges, or for charges of slander and libel from third parties.