Renters Insurance

Many believe that the landlord is responsible for any damage to their personal belongings in case of fire, flood, theft , or other natural disaster but this is not true.
The landlord would only be responsible in case of negligence , and that is an extremely high bar to cross.
Generally, the landlord is responsible for repair to the property, and you are responsible for the repair or replacement of your belongings.

Renters’ insurance may:

•  Pay for a hotel while repairs are being made to your unit if your apartment is damaged by a fire, storm or other covered event;
• Replace lost, damaged or stolen property caused by fire, lightning, windstorms, smoke, vandalism, plumbing leaks or other covered events; and,
• Pay medical bills for someone who is injured in your unit. The amount the insurance will pay is contingent upon how much insurance you purchase and the particulars of your policy. 

The law does not require a tenant purchase renters’ insurance, a landlord can require that you have it  through the lease agreement. 
Your property management company and landlord cannot sell you a renters insurance policy.
 Renters  insurance can only be sold by a licensed insurance provider.

Your property management company or landlord may require that you purchase a Property Damage Liability Waiver ( PDLW) or include a fee for a PDLW as part of your rent. It is important to know that a PDLW is not renters insurance and , generally , does not cover your belongings.
A PDLW usually only covers damage to the building, and may only apply to certain types of events, such as fire, smoke, explosions, or leaking water.
It usually does not offer any personal coverage for you or your belongings. It is imperative that you get a copy of an insurance certificate or declaration page that articulates what you are paying for and what coverage it entails before agreeing to its purchase.

Before purchasing renters insurance, please take the time to review your options and choose the policy that makes the most sense for you and offers the best coverage for your needs.
Please do not choose based solely on cost . You may end up without in your time of need. 
Remember to:

• Ask for discounts
• Ask about deductibles 
• Do not buy an insurance policy based solely on its price
• Protect yourself from insurance fraud

Purchasing renters insurance may be one of the most important decisions you make, and it is imperative that you take the time to research your options and choose wisely. Remember, having appropriate coverage can provide you with peace of mind at one of the most stressful times you may face in your lifetime.       

Maryland Insurance Administration
Renters Insurance Brochure - Why Renters Insurance is a Good Idea (PDF)
Por Que El Seguro Para Inquilinos Es Una Buena Idea (PDF)
Consumer Alert: Renters Insurance (PDF)
Alerta Al Consumidor: Inquilinos De Maryland, ¿Usted Tiene Seguro Para Inquilinos? (PDF)