Insurance can be tricky. We know we should have it, but how much coverage do we need? Figuring that out can be especially hard with homeowners or renters insurance, which must cover not only the property itself, but also related belongings and more.
“Both [homeowners and renters insurance] provide liability protection including medical expense payments if someone is injured or hurt on your property,” says Frank N. Darras, an attorney from Ontario, Calif., who specializes in insurance issues. “Both protect your personal property, even if your personal belongings are not inside your house or apartment when damaged, destroyed, or stolen. Both also protect you if the house or apartment is damaged and you need to relocate while repairs are made.” (That's one of many insurance lessons Brent Mondel learned when her house was ravaged by Hurricane Irene.)