We have written before about this important insurance that YOU MUST HAVE! Many times we have addressed this issue in the newspaper and on the radio and we still see with dismay how many renters lose all their personal belongings in a robbery, vandalism, and specially in fires and smoke without having the adequate cover to replace them.
You probably own more than you think. The average tenant has invested more than $30,000 in assets; among clothing, furniture, jewelry and electronics, and you should know that the property owner’s insurance usually covers the structure of the building in which you live, NOT your belongings.
Tenant Insurance is a policy that provides benefits to renters. The building owner is responsible for insuring but is not responsible for the tenant’s belongings. Tenant insurance can help protect you even when theft or loss occurs outside the home – such as in a hotel.
Our advice is to check with the insurance company where you have your vehicle insured. You will be amazed at how cheap the renters insurance is. Most insurance companies charge between $70.00 and $100.00 per year.
Some people experiencing a fire or theft, after going through the agony of refurbishing an apartment, find that they still have to pay their creditors for any piece or equipment they bought on credit and no longer own.
Do not think “this is never going to happen to me”. Believe it or not, some people have. And what’s even saddest, more than once they have been seen in the situation that we have explained. Please don’t be one of them!
