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Q: Do I really need renter’s insurance?

A: Yes. Renters insurance can protect your belongings in the case of damage or loss from dangers like fire, theft, vandalism, falling objects, even weather. While your landlord probably has property insurance that covers the physical structure of the building itself, a landlord’s policy won’t protect your personal property (clothes and furniture, for instance) in the event of say, a fire. Relative to other types of coverage, renters insurance is fairly affordable and well worth the peace of mind. Note, however, that there are some events and items renters insurance usually does not cover. Earthquake and flood damage for example, often needs to be covered with another policy or at an extra price. Also if you have very valuable items, like jewelry or fine art, you will need extra coverage.

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