Protect Your First Apartment with Renters Insurance

So you have finally decided to make that big move to your very own apartment. For the first time in your life, you will be living by yourself – no roommates, no parents, no siblings. You have complete say over the space, décor and furnishings. Although you may think that you are in total control, there are events that can occur that you may have absolutely no control over.

Some of these events can include a neighbor’s candle starts a building fire, someone breaks into your apartment, or a kitchen pipe bursts causing severe water damage. These are all instances that unfortunately occur. Many people are under the impression that their landlord’s policy will cover them. However this is not the case – a landlord’s policy will only cover their building, not their tenant’s belongings. This is why you should consider a policy of your own.

The most common occurrences that a Renters Insurance policy would cover are:

• Fire damage
• Smoke damage
• Water and flood damage
• Vandalism
• Theft

Below are some additional benefits of having a Renters Insurance Policy:

1. Personal Liability: protects you if you are found legally responsible for injuring someone else or damaging someone’s property
   • It will cover your legal fees
   • If you are found negligent, it will also cover any legal settlements up to your coverage limit
   • Medical payments to others – provides payment of medical expenses for guests who are accidently injured in your home regardless of fault
2. Personal Property: It will cover most of your belongings, including:
   • Furniture
   • Appliances
   • Clothing
   • Electronics
3. Loss of use: If your apartment is uninhabitable due to a covered loss, the policy will pay for any additional costs incurred such as Temporary housing
   • Additional grocery/ restaurant bills
   • Cost of moving your personal property to a storage space

With all these benefits included in Renters Insurance you may think that the cost of a policy is astronomical. However, Renters insurance is one of the most affordable coverages that you can purchase, averaging under $20 a month. So why wait for something unfortunate to happen before you consider it? Get it now, and save yourself from any regrets!