Most homeowner’s maintain insurance coverage on their home; but what about those of us who rent?
As a renter, your landlord will likely insure the building you live in, but will not be responsible for your belongings. A renter’s insurance policy is much like a homeowner’s policy but will insure your personal property specifically for hazards such as fire, theft and vandalism.
Larger apartments will sometimes require tenants to have a renter’s insurance policy. The landlord (and other tenants) may be able to resolve damage caused by the renter to the apartment, using the renter’s policy.
Maybe you’re good about locking the door and believe the building is pretty safe, do you need the coverage? Well, theft happens regardless of precaution and accidents and damages are nearly unavoidable. For the relative low cost of a renter’s policy, insuring your possessions is a sound choice. (Try asking around for the “war stories” of theft and damage that have occurred in the lives of your family and friends.)
It’s wise to keep an inventory of anything important to prove you had it in the event of a claim. Take pictures of these items and file them somewhere safe.
Learn more? Take a peek at U.S. News Money: Myths About Renter’s Insurance.
Speaking with a licensed professional is the best place to start in your search and find answers. Contact Podmaska Insurance Agency for a no-obligation insurance consultation, 800-940-6025.
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