Tag Archives: renters insurance

Do you need Renters Insurance?

If you are renting an apartment do you need renters insurance?

To help you decide if you need renters insurance, ask yourself the following.

  • Would you be covered for loss by your landlord’s insurance in the event of a fire?
  • Does your landlord’s insurance cover the contents of your apartment?

You may not have the coverage you need.  Your landlord’s insurance usually covers the building itself not the contents of your apartment.

Renter’s Insurance covers these three areas:

Personal Property

  • Contents of your home. (Clothing, furniture, dishes, electronics)  If you add up the costs of each of these items, then double it, do you have enough money in your savings to cover the cost?  If the answer is no, renters insurance is for you…

Liability

  • If someone is injured in your home, renters insurance can protect you from impending lawsuits.  Do you have enough money in your savings to cover liability cost?  No?  Then you need renters insurance.

Unforeseen Living Expense

  • If your apartment burns down, renter’s insurance can cover you for the cost of temporary accommodations.

Your local insurance agent would be happy to answer further questions you may have, and help you explore your options.

 

Click here for your free quote.

Landlord Inventory

Do you own rental property?  What can you do to protect your property?

Keep a digital inventory of your property.

Don’t let this happen to you…

landlord inventoryYou rent out an apartment to a family.  Before they move in you update everything. New wood floors, new refrigerator ,new dryer… everything.  A year or two go by and you have to make a repair on the kitchen sink.  Suddenly you realize the
oven that you installed is gone and an older one is in its place.  You mention it to them and they say.. are you sure??  You insist that this is not the oven you installed they say, of course it is…

Do you have proof??  Scenarios like this show why you would do well to make sure you have a digital inventory of the property and valuable goods.  Pictures should have a date stamp which shouldn’t be hard with modern cameras and even your smartphone.  Also the condition of the property should be noted. This can prevent theft and future liability issues.

Please be sure to let us know of your inventory as well.

Whenever contracts are concerned remember this;

  • Written contracts are best.
  • Details should be presented clearly.
  • Signatures and Dates, from both parties, must be clearly marked.

 

Encourage tenants to purchase renters insurance…