There is a lingering misconception that those who rent an apartment or live in a condominium do not need insurance since landlords carry the insurance. If you are one of these individuals, think again.
Landlords normally carry policies that would cover permanent structures only. With renter’s insurance, you will realize a number of benefits that may not immediately come to mind. These benefits include liability protection that covers medical and legal expenses up to your policy limit for someone injured in your home and additional living expeneses if you are temporarily unable to live in your apartment as a result of a covered disaster.
Depending on whether you reside in a fully furnished or an unfurnished unit, you may want to raise questions on the type of property coverage your landlord has for the building in which you reside. You are probably wondering if it is even worth getting insurance for your contents. Truth is, there is no straight answer to this question. You may never really know the value of your assets until you conduct a personal audit. By conducting a personal audit, you may realize just how much you are willing to risk should you decide not to forego purchasing insurance.
A personal audit is a real simple process. It only requires time and dedication, a writing utensil, paper, a calculator, and energy to perform the task. Your personal audit list should include furnitures, appliances, clothing, books, etc. The end result will surprise you! You may end up having more than you think. To help you with your personal audit, chek out knowyourstuff.org.
If you currently rent a home, an apartment, or a condominium consider acquiring a renter’s insurance for your protection and peace of mind.
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