There really is no battle between the pros and cons of renters insurance. It's such a good deal that there isn’t really a downside.

Pros and Cons of Renters Insurance: Plenty of Pros

It’s Cheap

For as little as 16 bucks a month you can get $30,000 worth of personal property coverage and that generally it comes with $100,000 in personal liability protection too.

Keeps Lawsuit Happy Neighbors at Bay

Renters insurance policies can cover your costs if held legally liable by someone who got injured or had their property damaged at your place.

Some pay your living expenses if you're forced to live elsewhere because of a covered loss.So, you won’t have to crash on your buddy’s couch.

Ipod Stolen from your Car?

Renters insurance not only covers your stuff if it’s stolen – most policies even protect your property if it’s taken from your car.

When your Dog Bites

Your liability coverage won’t just cover damage or injuries caused by your or your property – it’ll also protect you from damage or injuries caused to others by your pet. So if Boxer bites the next door neighbor – you’ll be able to cover medical expenses and legal fees if they take you to court (up to the policy limit.)

Cons?

The cons of renters insurance only exist if you don’t do your homework before signing on the dotted line.

Be sure to pick the right type of policy according to what you need covered.

Keep in mind that renters insurance policies can pay out one of two ways:

• Actual Cash Value will reimburse you for any property stolen or damaged after taking into consideration the depreciation of each item.
• Replacement Cost will reimburse you the full cash value of the current market price for each item.

Not knowing the difference or choosing the wrong one could quickly turn into a con when you file a claim.

Failing to take inventory of your things could also wind up causing a con. If you didn’t bother to mention or keep record of that expensive card collection of yours – you may have trouble claiming it.

So really the only con of renters insurance is not getting enough of it!

There really is no argument on the pros and cons of renters insurance, so make yourself a pro and shop around – the key to saving on renters insurance is comparing quotes online. Just be sure you get insurance advice from a trusted site like insurancerates.com that will shop around all the big companies for you.