Renters insurance protects your personal property in case it is lost, damaged or stolen. It also protects you if someone is injured or has sustained property damage while on the property you are renting. Renters policy, if used properly, is an inexpensive way to ensure that you don’t get stuck paying someone’s medical bills if they are injured on your property or pay to replace your items in the event you are burglarized.
Most renters policies provide personal property and liability coverage, but it’s important to check with your provider so you can be sure what your policy covers. Many landlords in Cottonwood require you to have at least liability coverage and may offer that to renters through the company that provides their insurance. However, usually these landlord-provided plans don’t cover your personal belongings, only your liability. So it’s best if you get it yourself.
Even if your landlord or property manager doesn't require you to hold renter's policy, doing so could save you money down the road if your belongings are damaged or stolen or if someone gets injured while in your rented home. Insuring your rented property is typically much less expensive than a home policy.