Most people don’t think about renters insurance until they are robbed. For students especially, who move around a fair amount, it may not seem like the most enticing way to spend a few hundred dollars.
That said, for those who are nervous leaving their fancy things in their apartment all day: Briefly, renters insurance covers personal property against the same perils as those covered against in basic homeowners’ insurance policies. These perils include fire, lightning, hail, theft, smoke, and riot. The main distinction between renters and homeowners insurance is that renters insurance does not cover the value of the dwelling itself–it covers property value, and the cost of taking out renters insurance depends on the value of the property for which you seek coverage. Many renters insurance policies also protect against theft of items such as bikes or laptops, even if they aren’t stolen from a residence.
Agencies near Hyde Park that sell renters’ insurance: Luke Harding State Farm, 2536 S. Martin Luther King Dr., (773)278-0001. Premier Insurance Services of Chicago, 1715 N. Wells St., (312)379-0083. Allstate Insurance Co., 2823 W 55th St., (773)776-2500.
An easier solution may be to take extra security measures and lock doors diligently.