Renter’s Insurance – An Affordable Safety Net for You and Your Family

Tuesday, July 24, 2012

For many apartment residents, as well as residents of rental single family homes and townhomes, renter’s insurance seems like a just another expense to be weighed against many others every month.  But it is important to understand that a landlord’s insurance will not cover an apartment resident’s belongings. Renter’s insurance, unlike auto or home insurance, gives broad protections and can also provide legal and medical assistance along with full market coverage for lost, stolen or damaged household items at a very affordable price.

The process of acquiring renter’s insurance will involve your making a list of the cost to replace the items in your apartment. Renter’s insurance will cover the replacement of your household goods at their market price, not a depreciated price. Take photos and keep a list of these items in a safe place to make the process easier in the event you need them.
Many renter’s insurance packages include liability protection, which covers injury to another person – even someone who doesn’t live there - on your property. If someone is injured in your apartment and they go to the hospital, your insurance will include medical payment coverage, as well as legal fees.
Renter’s insurance, while not a requirement, is an affordable safety net for you and your family.  Check with your insurance agent for details.