What is renters insurance?

Renters insurance is designed for the tenant of a property. It is similar to homeowners insurance in the fact that it protects you in two ways.

  1. It protects all of your personal property, those items you own and moved in to your apartment with, from unexpected loss due to things like fire, water damage, theft, vandalism and more. 

  2. It protects your assets. It covers lawyer fees and settlements that might result from being found responsible for injuring other people of damaging their property

Things to keep in mind when shopping
  • Just because your landlord doesn't require you to have renters insurance doesn't mean you shouldn't have it.

  • Almost everyone is surprised to find out how cheap renters insurance really can be. Most of the time $10-20 per month

  • When trying to think of the right personal property limit for you, imagine how much it would cost to re-buy all of your possessions brand new. That means all your clothes, furniture, electronics etc. It adds up quickly, Now think, is your personal property limit above that number?

  • If you own a car, you should shop your auto insurance as well. It usually makes sense to place your renters insurance with the company that gives you the best auto rate because auto rates differ more from company to company.

  • The discount you receive on your auto insurance will pay for the majority of your renters insurance making it even more of a no brainer.

Miller and Cornell Inc.

PO Box A

112 S. York Rd

Hatboro, PA 19040