Here’s the thing: Your lessor might be a great person, and you might have an excellent relationship with them but their insurance is not protecting your stuff. This is one of the reasons why tenant, or renter, insurance is so important. Where a lessor’s insurance will cover the building in case of disaster or emergency, tenant insurance will protect your things.
You probably don’t realize how much stuff you have, and you may not ever realize until you have to replace that stuff. Take a moment and consider how much clothing you own. Then consider how much it would cost to replace all of that clothing in the event of fire, or flood. What about your shoes? Electronics, or kitchenware? We’re looking at literally tens of thousands of dollars that you would need to come up with to replace everything, and we haven’t even mentioned furniture yet.
Heaven forbid this ever happen, but in the event of a flood or fire started by you that damages other units, tenant insurance will kick in then, too. It will also cover you if someone injures themselves or their stuff while in your apartment. While these might seem like worst-case scenario situations, it is still something to consider.
In the event that something happens to your living space and repairs are needed, there is a chance that you’ll have to live elsewhere while repairs are being done. Can you afford to pay rent on two apartments? Tenant insurance oftentimes will cover additional living expenses to help you get by while repairs are being completed.
Tenant insurance is strongly recommended for anything renting their home, apartment, or condo. The only thing up for discussion is how much coverage to get. That’s where we come in. A Coast Insurance broker can speak to you about your needs, and wants, and help you find the coverage that you need to have the peace of mind you deserve. Call us today!