5 Reasons You Should not Avoid Renters Insurance

Renters InsuranceWhen moving to a new apartment, many people overlook the importance of renter’s insurance. According to a survey conducted by rent.com, about 60 percent of renters don’t have renter’s insurance policies. Even if the landlord has the building covered, odds are that your belongings are not covered under that policy. Renter’s insurance protects you and your belongings from unprecedented perils, such as theft, water, and fire damage. Though 40 percent of renters are aware of the importance of renter’s insurance, there are many who don’t prioritize it, as they don’t understand how it works or why they need it. To help, this post lists five risks covered by renter’s insurance. Take a look.

1. Fire Damage

A fire accident can cause some serious damage to your apartment and belongings. In such situations, having renters insurance can protect you from financial setbacks. Renters insurance covers the cost of damaged belongings and the tenant’s liability in the event a visitor is injured on the premises. It also offers compensation for alternative living arrangements if your rental unit becomes uninhabitable.

2. Water Damage

Renters insurance covers damage to the property caused by water from plumbing, air conditioner, heating systems, or other household appliances. For instance, if your washing machine hose bursts inside the apartment and water damages your property, you’ll be compensated for any resultant losses. That said, damage due to natural calamities, such as flood are not covered under renter’s insurance policy.

3. Personal Injuries

What if your hand gets fractured due to a broken railing? If you have renter’s insurance policy is in place, it will cover all the medical expenses including medicines and doctor’s regular visit. Renters insurance also covers the injuries to any of your guests sustained while in your apartment.

4. Dog Bites

Animals are unpredictable and there’s nothing you can do to control their unexpected actions. But you can save yourself from the pet owner’s liability with the help of renters insurance. For example, if your dog bites a guest, your renters insurance policy enables you to take care of their medical expenses. Before signing on a renters insurance policy, make sure it offer financial cover on dog bites as not all renters insurance providers include it in their policy. Also your renters insurance policy may exclude certain pets and high risk breed such as pit bull.

5. Car Theft

What if the ECM or any other expensive part of your car gets stolen? If you have purchased a renters’ insurance, it is likely that you will get the reimbursement for everything you lost during the theft. Not only car accessories, but also the objects kept inside the car are covered by renters’ insurance, but it will not cover the damage or the loss of car.

Wrapping Up

In addition, renters insurance covers waterbeds, relocation and more. So, if you are planning to move into a new Tuscany rental apartment in TX or any other rental apartment for sale, we at Kington Properties can help you get a renter’s insurance. That said, don’t forget to take up a renters insurance to avail other facilities. Kington Properties aims at maintaining a long-lasting relationship with our clients by providing them with a comfortable and healthy stay at our Tuscany Apartment Homes For Rent. To learn more about our services, fill out our form or call us at (325) 942-8198.

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