TOM: From space heaters to open flames, most house fires strike over winter. Would you be covered by renters insurance if your belongings were damaged or even destroyed? Hi, I’m Tom Kraeutler.
LESLIE: And I’m Leslie Segrete with today’s Money Pit home improvement minute.
TOM: Most homeowner policies cover damage from fire. But if you rent, there’s a good chance your belongings are not covered by your landlord’s insurance.
LESLIE: That’s right. Renters need to purchase their own tenant contents insurance. Now, the good news is it covers more than just fire damage, protecting against losses from explosions, falling objects, and even water, plumbing, and electrical damage.
TOM: More good news: renters insurance can be purchased for as little as $10 a month. A small price to pay for that peace of mind. I’m Tom Kraeutler. For more Money Pit home improvement tips, visit moneypit.com.