Renters Insurance

Attention Renters - Avoid these common financial disasters with Renters Insurance

Fraudulent damage claims by the landlord after you move out of your apartment - Renters Insurance may cover this

* Your landlord fails to repair the leaking toilet in the upstairs apartment
You come home to find your apartment ceiling caved in, the place flooded, and your belongings ruined - Renters Insurance would have covered this

* Your room-mate tries his hand at cooking and causes a grease fire in the kitchen
In addition to destroying your belongings in the kitchen - all of your furniture and clothing are damaged by the smoke - Renters Insurance would have covered this

* You unwittingly rent an apartment in a lousy section of town
You return one evening to find the door kicked in and your new big screen television, your DVD collection, DVD player, CD collection, X-box 360, computer and other items missing - Renters Insurance would have covered this

* You think you've hit the jackpot with a place that includes a 2nd floor washer and dryer
But your landlord never replaced the 12 year old water hoses leading to the washer - one day the hoses burst and fill your downstairs with 3 inches of water - Renters Insurance would have covered this

Renters Insurance - Get it and protect yourself from these and other financial disasters

I. What is Renters Insurance?

Renters Insurance is an insurance policy that insures the value of your possessions. Just as homeowners insure their homes against various perils, so may renters insure their belongings against loss.

II. Why Get Renters Insurance?

It's dirt cheap and it can save your a-s. Often, renters insurance can be obtained for as little as $8.00 a month but can provide $10,000.00 - $20,000.00 in insurance coverage. A. Renters Insurance Protects against Loss from Criminal Activity

If your apartment is in a bad area and your landlord's idea of security is a pushbutton lock on your door, renters insurance is a great idea prior to the purchase of any expensive item like a flat screen tv or a new computer. If your apartment gets burglarized, the police will come by and make a nice report, but you don't have much hope of ever getting your stuff back. Even if they catch the burglar, your stuff will be long gone and filing a lawsuit against a deadbeat crook in jail is usually pointless.

You should have gotten renters insurance. If you did, and submitted the police report and your receipts to the claims adjuster, you would be receiving a nice check to make up for your losses.

B. Renters Insurance Protects against Failure of your Landlord to Make Repairs

If the upstairs tenant is complaining about his kitchen sink leaking and the landlord does nothing about it, your first indication of trouble will likely be when your living room ceiling falls in and destroys your stuff. You can demand that your landlord pay for the damages, but if he doesn't, what are you going to do? You can sue him, but that will entail hiring a lawyer and waiting about 8 months to a year before your case goes to trial. To top it off, the lawyer will likely get one third of what you recover.

You should have had renters insurance. If you had, you could submit your claim and receipts to your insurance adjuster and you would be getting a check for the value of your items right around the time that the landlord is getting sued by your insurance company for the damages.

C. Renters Insurance and Damage You Do By Accident

We all have our slow moments. Perhaps you will be cooking something and are distracted by a phone call. Your nose reminds you much too late that your stove top is ablaze. When you finally put out the fire, the wall and the ceiling are charred. Estimates to repair the damage range from $10,000.00 and $15,000.00.

The people who live upstairs from you are pissed because all of their furniture and clothing smell like smoke and bacon, and they are sending you a bill for upholstery steam cleaning and dry cleaning of $950.00.

You should have had renters insurance. Your insurance company would have paid out on the claim and your landlord would never know there was damage.

D. Renters Insurance and Damage Other Tenants Do.

You come home from work and your apartment building has burned down. Arson investigators conclude that the fire started in the apartment below yours because the tenant dropped his cigarette into a bin full of newspapers and junk mail when he fell asleep watching day time soaps. He doesn't have a job so suing him for the loss of your possessions is pointless.

You should have had renters insurance. You would have had a check from your insurance company right around the time you were ready to move into your new apartment, and depending upon the wording of your policy, they may even have paid your hotel bill.

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