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Renters insurance: a tenant’s responsibility, a tenant’s peace of mind

By Senior Airman Katie Cooper | 628th Air Base Wing Staff Judge Advocate Office | June 11, 2018

JOINT BASE CHARLESTON, S.C. —

Renters insurance is a policy obtained primarily to insure the contents of a rental unit. In the event that something happens to a rented home, the tenant’s personal belongings in the home will be covered the way a homeowner’s policy would cover contents. Likewise, renters insurance typically has some level of liability insurance, protecting tenants from responsibility of accidents within their home.

In the past, Hunt Property Management, privatized housing manager for Joint Base Charleston Air Base, provided renters insurance to tenants of their housing units. However, renters insurance is now a tenant’s responsibility. So each tenant will have to decide if they want to pay an insurance company a premium to insure their personal property.  This simply means that members who elect to live on base will either need to get their own renters insurance or decide to live with the risk of loss to their personal property in the event of theft, fire, or other event or natural disaster.

The price for renters insurance varies based on individual policy, the amount insured, and the provider’s business, but it is generally inexpensive and highly recommended. The average policy in South Carolina costs around $15 a month for $10,000 of personal property and $100,000 of liability coverage.

Some important things to consider when picking a policy is how much coverage you need. First, what is an estimated value of your personal property, to include home furnishings, jewelry, clothing, etc.? It’s also important to know what exactly the policy covers, and who the policy covers.

While renters insurance is not mandatory, it can provide peace of mind for a relatively low cost.