Know Your Liability Obligations When Renting
It's 8:46 am, your running late to work.
You rush out the door forgetting to turn-off the coffee pot.
At the end of the day, you return to your apartment building to smoke and a firetruck outside.
Your neighbors inform you that there was a fire in one of the apartments and no one will be able to stay in the building until the smoke clears.
You have no where to go except to a hotel for a few days.
To further complicate the matter, you are called by the apartment Manager and informed that the coffee pot in your apartment caused the fire and you are liable.
This event could cost you thousands of dollars if you do not carry Renters Insurance.
From the cost of the Hotel, the cost of an attorney and the cost to fix the damages to the building caused by the fire.
the common misconception among renters is that they do not have enough personal items to warrant carrying the insurance.
However, the primary purpose of Renters Insurance is your liability obligation in the event of damage to the property or injury to a guest.
The typical renter's policy carry the following: Liability $100,000 - $500,000 Personal Property - $5,000 + Loss of Use - $1,000 + (typically 20% of personal property limit) Guest Medical - $1,000 - $2,000 So, what do each of these items mean to you? Liability - Coverage for accidents and injuries that occur in your home, as well as outside your home that are caused by you, your pet or your property.
This does not include auto accidents.
Personal Property - Coverage for furniture, computer and electronic equipment, clothing, CD and DVD collections, your bike, cookware, eating utensils, etc.
(these items really add up) Loss of Use - Covers living expenses if you are forced to live elsewhere due to a covered loss Guest Medical - Covers medical expenses incurred by an injured guest So ask yourself, can you afford NOT to have renters insurance? For penny's a day, you can have peace of mind.
Not to mention, some apartment buildings are now requiring tenants to purchase Renters Insurance.
The average cost of Renter's Insurance is $10 - $20 a month depending on your zip code.
Don't wait another day! Get your Renter's Insurance and have peace of mind!
You rush out the door forgetting to turn-off the coffee pot.
At the end of the day, you return to your apartment building to smoke and a firetruck outside.
Your neighbors inform you that there was a fire in one of the apartments and no one will be able to stay in the building until the smoke clears.
You have no where to go except to a hotel for a few days.
To further complicate the matter, you are called by the apartment Manager and informed that the coffee pot in your apartment caused the fire and you are liable.
This event could cost you thousands of dollars if you do not carry Renters Insurance.
From the cost of the Hotel, the cost of an attorney and the cost to fix the damages to the building caused by the fire.
the common misconception among renters is that they do not have enough personal items to warrant carrying the insurance.
However, the primary purpose of Renters Insurance is your liability obligation in the event of damage to the property or injury to a guest.
The typical renter's policy carry the following: Liability $100,000 - $500,000 Personal Property - $5,000 + Loss of Use - $1,000 + (typically 20% of personal property limit) Guest Medical - $1,000 - $2,000 So, what do each of these items mean to you? Liability - Coverage for accidents and injuries that occur in your home, as well as outside your home that are caused by you, your pet or your property.
This does not include auto accidents.
Personal Property - Coverage for furniture, computer and electronic equipment, clothing, CD and DVD collections, your bike, cookware, eating utensils, etc.
(these items really add up) Loss of Use - Covers living expenses if you are forced to live elsewhere due to a covered loss Guest Medical - Covers medical expenses incurred by an injured guest So ask yourself, can you afford NOT to have renters insurance? For penny's a day, you can have peace of mind.
Not to mention, some apartment buildings are now requiring tenants to purchase Renters Insurance.
The average cost of Renter's Insurance is $10 - $20 a month depending on your zip code.
Don't wait another day! Get your Renter's Insurance and have peace of mind!