I live with another person who owns their home. Can I get insurance to protect my property? I have quite a bit of electronics, appliances, hot tub, etc, and I don’t want to suffer a loss in case of fire, theft, etc.?

Asked by anonymous from an unspecified location

Great question! You’re wise to want to protect what you have; and when you live with someone else or rent a place you don’t own, renters insurance is the perfect way to do that.

Whereas homeowners insurance covers the person who owns the home against damage or disaster, renters insurance protects only the possessions of someone else who lives in the home. With this type of coverage, you’re basically protecting just the contents of the home that are yours: those electronics you mentioned, your clothes, furniture, appliances and anything else that’s yours and is stored on the premises.

Most insurance agents that sell homeowners policies can also write policies for renters. We recommend you request free quotes here on our Web site for the most competitive rates.

Good luck, and let us know how it goes!