Its that time of year again, the leaves are changing colors, the days are getting cooler, its time to go back to SCHOOL. As you gather your school supplies and get everything ready for you apartment, don’t forget Renters Insurance. Most plans you can tack onto your parents already existing homeowners insurance for as little as $5.00 a month to cover your individual assets. Other plans can add to your car insurance. Or, if you opt for a stand-alone package you get up to $1.3 million dollars worth of coverage for as little $30.00 a month through some companies. Now, you may be thinking to yourself, “why do I need this?” The answer is simple, because you never know WHAT MIGHT happen down the road.
Lets give a quick breakdown about what most policies cover.
Think of everything you own. Now try to assign a dollar amount to all those items. Pretty crazy isn’t it? A standard renters insurance policy offers you coverage for theft, loss or destruction of your personals belongings in the event of fire, storm other natural disaster. These policies can help you replace these items, from your clothing to your furniture and electronics to even more expensive items.
You can even take out extended coverage that will provide you with higher limits of coverage to really insure your items are safe and sound. Because nothing would be worse then finally finishing your 25-page term paper and all of a sudden someone steals your laptop, it could happen!
Liability coverage is also another standard item that comes bundled with your renters insurance. This is great incase someone injures themselves at your place and needs serious medical attention and you are found at fault. So if you friend trips and falls down “studying” for finals, don’t worry liability insurance will help cover those costs!
Finally, additional living expenses are also included in renters insurance. Now this doesn’t mean your policy is giving you free money to go spend around town. But, it will give you supplemental income if you are the victim of a fire or other disaster and your apartment is deemed unlivable. Meaning your policy will cover expenses to include things like hotel bills, restaurants and other day-to-day occurrences. This means no crashing on a friends couch or moving back into the dorms!
College is hard enough without having to deal pending “what ifs?” could happen to the place you are living. Do yourself a favor and drop the extra cash each month. You’ll rest easier knowing that someone else is also looking out for you!
The post Renter’s Insurance: Is It Necessary? appeared first on Apartment Living Blog.
from Apartment Living Blog http://www.forrent.com/blog/apt_life/renters-insurance-is-it-necessary/
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