By Emma Patch
From Kiplinger’s Personal Finance
Most homeowners know that they need homeowners insurance to cover loss or damage to their property—and if you have a mortgage, you usually have no choice. But if you’re one of the more than 100 million Americans who rent their residence, don’t overlook the value of renters insurance.
Some landlords require tenants to have renters insurance. But even if that’s not the case, a policy could go a long way toward protecting your property and finances.
If there’s damage to your rental from fire or a break-in, your landlord is responsible for repairs to the property you’re renting but isn’t responsible for fixing or replacing your personal possessions. That’s where renters insurance comes in….