Do you have renters insurance?

At the same time that we were closing this edition that you have in your hand, a fair was being held at the Campagnone Common, sponsored by the Greater Lawrence Community Action Council. The fair in question was made up of non-profit organizations, local businesses and government offices that offer assistance with education, financial services, health, housing, job training, youth activities and other matters of interest.

Heal Lawrence was one of them. Heal Lawrence helps fire victims after losing their apartments and properties, to recover what is lost, but it is never enough and that is why they were inviting all tenants in Lawrence to obtain Tenant Insurance. Heal Lawrence is launching a campaign throughout the city to educate and inform tenants that the insurance will cover their expenses and loss of property if they were the victim of a fire or other disaster.

We have written before about this important insurance that YOU MUST HAVE. Many times we have discussed this issue and we still see with dismay how many tenants lose all their personal belongings in a robbery, vandalism, fire and smoke without having coverage to replace them.

You probably own more than you think. The average tenant has invested $30,000 in property, including clothing, furniture, jewelry and electronic devices. And you should know that the owner’s insurance on the property usually covers the structure of the building in which he lives, NOT the tenant’s belongings, which in this case is you.

Renters Insurance is an insurance policy that provides benefits to tenants. The building owner is responsible for insuring the building, but is not responsible for the tenant’s belongings.

Renters insurance can help protect you even when theft or loss occurs outside the home – like in a hotel. Our advice is to check with the insurance company where you have your vehicle insured. You will be surprised at how cheap renters insurance is.

Most companies charge between $70.00 and $100.00 annually. Some people, who experience a fire or theft, then go through the agony of returning to an apartment, only to discover that they still have to pay their creditors for any piece or equipment they bought on credit and no longer own.

Do not think that “it will never happen to me”. Believe it or not, it has happened to some people more than once. Don’t be one of them!