(NBC News) More people are renting instead of buying a home these days, but many are debating if they need to also buy renters’ insurance.
“The problem with not having renters’ insurance and sort of assuming that the landlord is going to take care of you if get into legal trouble or you have a natural disaster… the problem with that is that their insurance never covers you,” explains Laura Adams from InsuranceQuotes.com.
Adams says that it is not worth risking personal possessions and personal liability inside your rental when you could just pay $16 a month. The average cost of a renters’ premium across the nation is less than $200.
Although there is no law you have to have renters’ insurance, more landlords are requiring renters to have it in order to rent.
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