Every apartment dweller should have renters insurance. Bottom line.
Being a renter often means having fewer things to worry about. Got a plumbing issue? Call the landlord to fix it. The furnace in your rented house stopped working? Call the owners and have them replace it. But what if your apartment gets burglarized? Or a burning candle gets knocked over? Some renters think that everything they have inside their apartments is insured under the landlord’s policy, but that only covers the building itself.
And while many renters focus on the relative value of their own possessions when choosing renters insurance, it’s important to also consider the risk to another person’s property. That same candle could affect hundreds of people in an apartment complex. The potential exposure to lawsuits could be staggering.
Renters insurance is often one of the most under-utilized insurance products on the market because it’s not mandatory by the state, as auto insurance is, or by mortgage lenders, as homeowners insurance often is. This is your best protection for property damage, theft and loss, as well as coverage for temporary housing and various types of lawsuits and claims made against you. At Thomas Bradley Insurance, we believe it’s essential to your personal security.
Available coverage can include:
Personal Property Covers the cost of your personal belongings in case of an unfortunate event such as fire, smoke, lightning, theft, vandalism, explosion, windstorm, water, and other disasters is important. Possessions can include furniture, clothing, electronics, appliances, kitchen utensils and bed linens. Replacement cost basis.
LiabilityCoverage Protects you against lawsuits for property damage or bodily injury caused by you, your family or pets, as well as no-fault medical coverage in case a visitor is injured in your home.
Additional Living Expenses If your apartment or rental unit becomes uninhabitable due to a covered hazard, your renters insurance covers hotel bills, restaurant meals and other cost of living expenses.