My daughter called me today and told me a story of a friend whose apartment was damaged in a fire caused by a neighbor in another apartment. Her friend didn't have insurance.
If you rent a house or apartment you should consider renters insurance to protect your stuff. Your landlord is not responsible for protecting your furniture, clothing, electronics and other property. In all likelihood, your lease specifically states that the landlord can't be held responsible.
It's your stuff. You need to protect it.
Renters insurance provides three coverages:
-Protection on your property against fire, theft, windstorm, etc.
-Coverage for "loss of use" - Insurance to pay for rental of another apartment while your place is being repaired.
-Personal Liability Insurance - Coverage if you are responsible for burning your apartment down or if you injure someone visiting you.
For $25,000 of property coverage, loss of use, and $100,000 of liability protection you can expect to pay less than $250 a year. Talk to the insurance agent who insures your car. You may find that you get a discount on your car insurance for having two policies with the same insurer.
If you rent a house or apartment you should consider renters insurance to protect your stuff. Your landlord is not responsible for protecting your furniture, clothing, electronics and other property. In all likelihood, your lease specifically states that the landlord can't be held responsible.
It's your stuff. You need to protect it.
Renters insurance provides three coverages:
-Protection on your property against fire, theft, windstorm, etc.
-Coverage for "loss of use" - Insurance to pay for rental of another apartment while your place is being repaired.
-Personal Liability Insurance - Coverage if you are responsible for burning your apartment down or if you injure someone visiting you.
For $25,000 of property coverage, loss of use, and $100,000 of liability protection you can expect to pay less than $250 a year. Talk to the insurance agent who insures your car. You may find that you get a discount on your car insurance for having two policies with the same insurer.
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