A little spent on renter's insurance could save you a lot - wave3.com-Louisville News, Weather & Sports

A little spent on renter's insurance could save you a lot

Kylie Brady Kylie Brady
Chris Mackey Chris Mackey

LOUISVILLE, KY (WAVE) - Renting a house or apartment can be expensive. Add in college tuition and family budgets are stretched often to their limit.  But adding in one more minor expense called 'renter's insurance' can be the best investment a student or family make.

"It covers all your personal property," Chris Mackey explained.  Mackey is agency manager at the Kentucky Farm Bureau Gardiner Lane office.

Kylie Brady is a graduate student at Bellarmine University and says she got renter's insurance because her apartment complex requires it. "You don't think about every day, how much stuff that you actually have and how much it is worth," Brady said.

Furniture, computers, tv's are all covered.

"I would recommend going through an inventory list, listing furniture, clothing electronics. It adds up quickly," Mackey said.  He says any student or family renting should consider the investment.

It cost as little as 12 to 15 dollars a month. 

"It also comes with liability, which a lot of people don't even consider." Mackey said. Things like injury accidents, dog bites, even property damage are covered to some extend.

If you, "Accidentally leave the bathtub running and water damages the flooring or there's a fire you accidentally cause, landlords are going to come to you if you're liable. And the renter's insurance policy will cover you up to your policy limits." Mackey explained.

For college students stilled considered dependents the parent's homeowner's policy may provide some coverage. Mackey recommends making a list and a video of your property and storing it in a fireproof box.

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