Why Renter’s Insurance is a good idea when renting an apartment
Life at Montrose Square Apartments in Fort Wayne certainly has many perks. For example; you don’t have to do any yard work or shovel snow. And, if your shower is leaking, just call maintenance! They’ll have it fixed for you in no time, free of charge! However, when it comes to living in an apartment, there is one thing that many people do not think about – renters insurance. While 99% of homeowners have homeowners insurance, less than half of renters have renter’s insurance. The biggest mistake people make when it comes to renter’s insurance is not getting any.
What does Renter’s Insurance Cover?
While we don’t always like to think about it, unfortunate events do happen, and you can’t really do anything to plan for them or avoid them. When it comes to you and your family’s well being, you really should consider getting renter’s insurance. In the event of any weather related accidents or theft, renter’s insurance can help ensure that your belongings are taken care of. In most cases, renter’s insurance policies cover many losses such as:
- fire or lightning
- water damage (due to bursting pipes)
- natural disasters (hurricanes, earthquakes, floods)
- liability losses
If any of these aforementioned occurrences ever take place, the only way to make sure that your possessions are covered is via renter’s insurance. Going without renter’s insurance is taking a huge gamble on all of your belongings.
What Kind of Coverage Do You Need?
Now that you know the severity of renter’s insurance, the next question to ask is “what kind of coverage do I need?” The answer to that question depends on the renter. In order to find out how much coverage you need, take a detailed inventory of your belongings, and decide how much everything is worth. Write down everything you own: electronics, musical instruments, furniture, etc. After you have figured out how much your possessions are worth, then you can begin looking for a coverage policy that best fits your needs.
When searching for an insurance policy, be sure to ask questions. You need to be educated about your policy – what is covered, what your deductible is, how much coverage is available, etc. Each policy is different from the next.
Make sure your belongings are covered, talk to local insurance agencies today to make sure that your apartment and belongings have the proper coverage.