Everything You Need to Know About Renter's Insurance
August 18, 2020
Author: Park Property Management
Renter's insurance is a crucial part of renting.
If you're looking into acquiring insurance, we've got some important information to consider.
Some residents believe that they don't need renter's insurance if the building manager is insured. However, the insurance property owners have only covers cosmetic and structural damages to the building, not contents of individual apartments. Under the property manager's policy, your apartment will be repaired or rebuilt as needed, but any damaged or lost personal items are your responsibility.
It can be overwhelming to have to replace everything you own at once due to fire damage, a flood, or other apartment disasters. Aside from the daunting task of shopping for all new items, the financial strain is more than most people can take.
When you acquire renter's insurance, you and your family are protected from financial hardships caused by unexpected events like natural disasters, accidents, or theft. Renter's insurance can cost as little as $20 to $30 a month, and provides you with year-round peace of mind.
If you already have car insurance, adding renter's insurance can be as simple as calling your insurance agent and asking to add it to your monthly premium. Otherwise, getting quotes for tenant insurance can be done online or over the phone.
Before you choose your insurance coverage, take note of any high-value items in your possession. Do you work from home with expensive equipment? Do you have any heirloom jewelry or other high valued possessions? Make sure to include the value for all your most expensive belongings and update your policy whenever needed.
When you're ready for a new apartment, view our suites online and call to book a tour. Then start getting quotes for renter's insurance; it's the best purchase you can make for your new apartment.