What should tenants do to ensure their personal property is protected?

Tenants should obtain renter's insurance to ensure their personal property is protected. Renter's insurance provides coverage for personal belongings in the event of theft, fire, or other damages. This type of insurance is specifically designed for renters and addresses the significant gap in coverage that can occur since the landlord's insurance typically only covers the physical structure of the property and not the tenants' personal items.

By having renter's insurance, tenants gain peace of mind knowing their belongings, such as furniture, electronics, clothes, and other personal items, are protected. It can also provide liability coverage, which is beneficial if someone is injured in the rented space. This investment in a renter's policy can be relatively low-cost compared to the potential financial loss from replacing personal property.

The other options do not adequately provide for the tenant's needs. Relying on the landlord's insurance overlooks the fact that it does not cover tenants' personal belongings. Only insuring valuable items may leave other possessions unprotected, while signing a policy with the landlord may not provide any coverage for personal property at all. Thus, obtaining renter's insurance is the most effective way for tenants to safeguard their possessions.