Chances are, if you're a renter, you've probably heard of renter's insurance, but you may be asking, " Why do I need it?" Here's why: It's bitter cold winter and the pipes in your upstairs neighbor’s apartment freeze and burst, causing water to flood into your apartment, damaging your dresser full of clothes, new mattress, and all your bedding While you were at work, someone broke into your apartment and stole your laptop and TV

What can you do to protect yourself and your belongings from faulty pipes, thieves, and general bad luck? One simple answer: renter’s insurance You may think, “Doesn’t my landlord cover damages or theft?” Actually, no Your landlord’s insurance covers the damage to the building, but you are on the hook for your belongings Some landlords may require tenants to purchase renter’s insurance, but in most cases it is up to you Renter’s insurance is a reliable and affordable way to protect your possessions—such as clothes, furniture, computers or cell phone

Renter’s insurance helps you replace items lost or damaged in mishaps like theft or fire It can also help protect you from legal trouble if someone is hurt in your apartment or house Fortunately, renter’s insurance is fairly inexpensive You get all the protection your renters insurance policy provides for about $10 – $20/mo You may be asking, “But where do I get renter’s insurance?” Most insurance companies offer renter’s insurance policies

So, if you have another insurance policy, like car insurance, you can contact your insurance company and ask about purchasing a renter’s insurance policy There are also online services that can provide you with a quote for renter’s insurance and often you can purchase your policy right on the site It’s an easy and relatively inexpensive way to protect yourself against the unexpected: get renter’s insurance Housing4Hoosiers is a service of South Central Indiana Housing Opportunities SCIHO is dedicated to expanding housing options for low- and moderate-income households in South Central Indiana