Should I get renters insurance for a furnished apartment?

"As part of my new job, my employer's giving me an apartment that's fully furnished and paid for over the next 10 months. Do I need renters insurance for this apartment? It's not like I would stand to lose much if there's a fire or robbery. The most valuable item I own is my laptop.

"

Answer
“You should strongly consider getting a policy. Renters insurance goes above and beyond protecting personal belongings. There are a lot of other coverages included in a renters policy that are important for you to have.
For example, renters insurance includes a coverage type called “loss of use,” which will help support you financially if you are displaced from your home due to a covered peril. For example, if there is a fire in the apartment and you cannot stay in the unit because the damages are too significant, your loss-of-use coverage will help cover expenses such as a hotel stay, takeout for food, extra gas to travel to work, etc.
Most often, renters insurance can also cover you if you damage someone else’s property. If you damage the building or the property significantly enough, you can be sued. The liability coverage on your renters insurance policy will help cover legal fees and the damage done to the property. “
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Savannah Grabek
Answered on Apr 13, 2021
Savannah Grabek is an expert in Personal Lines insurance. She has 5 years experience in the insurance industry. Savannah began her carrier working with just property insurance and is now tenured in all personal line including home, auto, motorcycle, boat and umbrella. She previously worked for GEICO and has now been working with Jerry insurance for the past year. Savannah lives in New York with her son, fiancé, and puppy Bear. In her free time she enjoys spending quality time with her family and hiking with her dog.
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