Renting Your First Apartment? 2 Key Reasons to Get a Renter's Insurance Policy
Posted on: 21 April 2022
Moving into an apartment for the very first time is an incredibly exciting event. There is a tremendous amount of freedom that comes with living in your own place that is truly priceless. You likely can't wait to pack up your belongings and get settled into the property, but there are a few things you need to do before turning the key. If you haven't thought about taking out a renters insurance policy, listed below are a few reasons why you may want to do so right away.
Loss of Use Coverage Protects You During an Emergency
Although you may be an extremely fastidious person who likes to cross every "T" and dot every "I," there is still no way to plan for the unthinkable. Living in an apartment comes with a set of risks and while they may not be on your mind right now, they are sure to take center stage if something were to happen.
A good example of this would be if a fire were to break out. Maybe a neighbor forgets to turn off their stove and it somehow catches fire in the middle of the night. If the flames happen to scorch through your unit and you are not able to return until the damages are repaired, where will you stay? This is a very serious question that you need to find an answer to.
The loss of use portion of your policy pays for additional living expenses in case a covered peril occurs. You'll be able to receive funds to cover the cost of things such as your hotel fees and the meals you have to eat out. It is an invaluable form of protection that could keep you from having to sleep in an undesirable location.
Renters Insurance Blankets Your Personal Property
You're also going to need some kind of reassurance that your belongings will be covered in case of theft or fire. No one wants to have to pay the cost of replacing everything they own if a burglar decides to trespass on their property. The limit you set for your personal property is very important so be sure to tally up a good estimate before relaying the number to your insurance agent.
Getting renters insurance adds to the peace and comfort you're sure to feel once you get moved in. Reach out to an insurance carrier to purchase this important protection today.
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