It also helps protect theft prone valuables like laptops and bikes, wherever taken. If something like a fire makes a home uninhabitable, renters insurance will cover the increase in costs of a place to live until it can be moved back into. RI will also replace personal belongings at replacement value, not just the depreciated value. RI can help provide protection in case of a liability lawsuit. This could occur in a situation where you are held responsible for, injury of another person or damage to another person’s property.
Whether the incident occurred within your rented residence, or elsewhere. The amount of protection provided by RI depends on the coverage plan bought, how much coverage is bought, and which deductible is selected. Surprisingly the amount of protection provided by renters insurance is quite large. Had I not looked in to it I would have never known the full scope of coverage for this type of insurance and how beneficial and wise it can be to have renters insurance.