What if everything you own was damaged, stolen or destroyed? Would you have the thousands of dollars to replace valuable merchandise, such as your clothes, jewelry, computer, DVD player, television, furniture, and stereo equipment?
If you live in a rented apartment, house or condominium, your landlord’s insurance doesn’t cover your personal property in the event that it is stolen or damaged as a result of a fire, theft or other unexpected circumstance.
If your building burns to the ground, your landlord isn't responsible for replacing the charred contents of your apartment.
Whether you rent an apartment, own a condominium or have any rental property, you need insurance to protect your belongings. While your landlord and condo association might have insurance, it only protects the building and not its contents.
So if your building burns to the ground, your landlord isn't responsible for replacing the charred contents of your apartment. Likewise, if your house guest trips over your ottoman and fractures his arm, your landlord's insurance on the property won't protect you from liability. Your landlord may be liable for injuries outside of your rental property, common areas such as the lobby or stairs. But once your guest crosses your front door, he or she is your responsibility.
When you look at the trade-off — paying a small premium for coverage against the cost of replacing what has taken you years to accumulate — renters insurance makes perfect sense.
Contact our office for a no-obligation quote on Renter’s Insurance. Most coverages can be quoted and bound from the comfort of your home.