Renter’s insurance. Do you have it? If not, have you been thinking about getting it? Let us help you answer any of those questions you have as well as give you 3 great reasons why you should take advantage of the opportunity to protect yourself from any extraordinary circumstances.
- Cover your personal belongings, they’re worth something!
J. Michael Real Estate Management has insurance of course, but it’s only to cover our property. The roof over your head, the plumbing throughout your apartment, windows, fixtures, etc. – it’s covered by our policy. Unfortunately, your possessions are not, any clothes, furniture, electronics or personal items could be in danger if something unexpected takes place. While nobody expects a fire, natural disaster or robbery, they do occur, and you don’t want to leave yourself in a predicament if it happens to you. Where would you go if you were displaced by a fire? Renter’s insurance will pay for your hotel costs while you’re out of your apartment. What about your computer that was damaged in a fire or all your clothes and belongings that have smoke damage? Renter’s insurance will pay for you to replace those items after you meet your deductible.
- It covers more than just what’s in your apartment
Renter’s Insurance covers more than just what’s in your apartment when something unexpected happens. Imagine, you awake to find your car has been broken in to. The passenger window has been shattered but you think, ‘My car insurance will pay for it,’ while you’re correct about the window, what about the laptop that you just noticed was stolen? Your renter’s insurance may have you covered! Oftentimes where your other insurances have gaps your renter’s insurance will kick-in. It’s amazing what a simple $20 a month can do to protect you and your valuables. Also, if you plan on leaving the country (travel abroad, anyone?) and you run into issues such as luggage being lost or stolen, your renter’s insurance may cover that as well. Just make sure that the cost of the items lost or stolen exceed your deductible, or it may not be worth filing a claim. Additionally, if you’re at fault for any injuries to your guests or if you damage anyone else’s property your coverage could cover medical bills or repairs.
- Renter’s Insurance is affordable!
Most renter’s insurance policies are relatively inexpensive, costing a renter on average $15 – $30 a month. This is a small price to pay when you consider expensive belongings such as your electronics, clothing, furniture, important personal items like passports, birth certificates and social security cards are usually all covered by your policy. Have a car insurance policy already? Most insurance companies may offer an option to add renter’s insurance for a nominal fee each month. However, be aware that many policies require extra coverage for flood or items that cost more than your basic coverage (expensive technology items, jewelry, etc.)
If you have any questions about renter’s insurance, J. Michael Real Estate would be happy to help or point you in the right direction! Contact us by email or give us a call at (608) 233-4440