Renter's insurance can be a great thing to have. In the event of a flood, a fire, or even a break-in, it can cover costs that may otherwise be unaffordable, and help you replace your possessions. One thing to keep in mind, though, is that renter's insurance covers your belongings, not the landlord's belongings. However, it does also cover damage you do to your landlord's property, such as broken windows or burnt carpets.
When Rental Insurance Counts
Unless you paid for and installed them yourself, carpets are your landlord's property. If the burn was there before you moved in, you shouldn't be responsible for the damage. Your landlord's homeowner's insurance should cover the cost of repairs. However, if you caused damage to your landlord's carpet, your renter's insurance should cover it. Be aware, though, that there may be a hefty deductible, depending on your policy.
Specializing in food and business, Melissa Haskin is a Oregon writer who received a Bachelor of Science in economics with an emphasis in business from Oregon State University. She completed graduate work in journalism at the University of Oregon and has contributed to publications such as "The Register-Guard," "Oregon Quarterly" and "Eugene Magazine."