Many people do not see the importance of renter’s insurance, but it’s a great and usually inexpensive way to protect yourself and your home from many mishaps. It’s highly recommended because it gives you coverage when your belongings are stolen or destroyed in accidents. Many insurance companies like Geico, Allstate, and Nationwide offer such policies to renters all around the country.

Here are some of the major mishaps that renter’s insurance will usually cover you from:

• Fire or lightning
• Windstorm or hail
• Explosion
• Riot or civil disturbance
• Aircraft
• Theft
• Broken glass
• Vehicles
• Smoke
• Falling objects
• Vandalism or malicious mischief
• Volcanic eruption
• Weight of ice, snow, or sleet
• Accidental discharge or overflow of water
• Sudden and accidental tearing apart
• Freezing
• Artificially generated electrical charge

On average, renter’s insurance costs anywhere from $100 to $300 annually. This will give you a basic policy, providing about $30,000 worth of coverage for your property. Replacement cost coverage is usually a little more expensive than actual cash value coverage, but it is typically worth the extra money.

Do yourself a favor and get renter’s insurance. It’s better to be covered!