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Miss Insurance | Importance of Renter's Insurance

By PRANDI Property Management Friday, October 7, 2011
The importance of renter's insurance: Why is renter's insurance even important? For many renters, this type of insurance coverage is completely neglected--but it does provide valuable protections for the renter's themselves, let alone their apartment or house. What would happen to your belongings if:
  • Your home gets flooded during rainy days?
  • Someone broke into your home?
  • A guest injured themselves while staying with you?
  • Your rented home burned down?
A lot of people think getting renter's insurance is a waste of money, others thing that they just don't have enough belongings to "insure". If you are one of those people, think a minute. Do you have?
  • Clothing
  • Jewelry
  • Furniture
  • Electronics
If you answered yes to any of these (which I bet you did), then you should PROTECT YOUR BELONGINGS! There are four types of renter's insurance coverage to consider:
  1. Personal Property - this protects your personal possessions
  2. Personal Liability - this protects you if someone is injured on your property
  3. Improvements Coverage - this protects you from a lawsuit if your rental is damaged
  4. Fire Legal Liability Coverage - this protects you from being held liable if there is a fire
If you can afford renters insurance, you should really consider buying it -- if only for safety's sake! --Miss Lisa "Insurance" Doughty PRANDI Property Management, Office Coordinator

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