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Beware: Landlords Have No Stake in Your Property

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Landlords, no matter how friendly and caring they may seem, have no stake in the property that you keep in your dwelling. A good landlord will keep the building and facilities in good repair, but your personal belongings are your own responsibility. It is wise to invest in renters insurance to protect yourself against potential loss from catastrophes such as storms and other acts of God.

You can bet the landlord has insurance to cover the building and any property that they provide tenants such as large appliances and any furniture if the rental property is furnished. But anything you bring into the dwelling is not covered under the landlord’s policy. You must buy your own coverage if your wish to have your possessions insured against loss. When you consider that those goods include expensive items such as televisions, stereo equipment and computers, obviously the wise choice is to get proper insurance.

It would be nice to think we live in a completely safe world, but realistically we must face that there are those among us who will take what they want regardless of who they deprive of their rightful property. Burglary is a real threat and can take from you the things you have worked so hard to earn. How easy would it be for someone to walk away with your laptop? Would your neighbors notice an unfamiliar face loading your television into the back of a moving van? Are your neighbors even home when you are away?

Even if you live in an area where crime is practically nonexistent, you still have to contend with the possibility of fires and other devastating tragedies. According to the United States Fire Administration, $7.6 billion in property loss occurs each year due to fires in residential buildings. In a fire, you are likely to lose everything. The same is true with major storms or other acts of God. Can you really afford to risk it all?

No one can ever be fully prepared for a tragedy, whether it is a minor break-in or a major catastrophe, but renters insurance can put your mind at ease as far as the financial aspect of any disaster. Your landlord will protect the building, but it is up to you to protect your belongings. You cannot rely on your landlord to take care of the problem; it is not his or her responsibility, it is yours and yours alone. Make the wise choice and consider insuring your belongings.

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