Moving into a new apartment is always an exciting endeavor. But what would you do if there was a fire or someone broke into your unit? Would you realistically be able to pay to replace all of your stuff at one time?
For most people, it would be difficult to come up with that level of cash all at once. This is where having an appropriate level of coverage ahead of time comes into play. Here are three reasons why all apartment dwellers should purchase renters insurance.
Reason #1: Peace of Mind and Protection
For many people who live in an apartment, the most important reason to purchase a renters insurance policy is peace of mind. Catastrophic events, such as a fire or theft, usually happen when you least expect it—and your landlord is not responsible for any of your personal items. By making sure you have adequate coverage in place before something happens, you can ensure replacement of your belongings if such an event should occur.
Reason #2: Coverage Against Liability Claims
Another important reason to purchase a renters policy is for protection against liability claims. This type of coverage helps pay for medical bills if someone visits your apartment and becomes injured while on the premises. It also covers any injuries associated with pet bites—including when you are at the neighborhood park or out in public. In addition, it will sometimes pay for legal fees associated with any lawsuits or other litigation attached to such a claim.
Reason #3: Lower Auto Insurance Rates
One more great reason to purchase a renters insurance policy is that it can lower your auto insurance rate. Many policyholders who have their renters and auto policies with the same carrier often qualify for a discount on both policy types. For some, this even means getting two policies for right around what they are already paying for one.
Of course, discounts and exact levels of coverage vary depending on which insurance carrier your renters policy is through. Thus, it is always important to speak directly with your agent regarding your exact situation before making any assumptions about what is covered and what is not. However, having a renters policy is always a better option than going without.
For more information about getting a renters insurance policy or for a no-obligation quote, please contact our team at the Bob Korvas Agency Inc. today.