A flat screen TV, a fancy microwave oven, the very latest fashions (of course), all of the things in your apartment, and you’d be surprised how quickly the value of your stuff can add up. (Most renter’s policies will cover at least $10,000 of your belongings.) And while the likelihood of your things being stolen or destroyed by fire or some other natural event is small, it can happen, and so, it’s important to be protected with renter’s insurance.
Start by taking an inventory of your belongings. Even better, take photos or videos of more valuable items. Having photos can make it easier to settle claims with your insurance company later. Just make sure to store your photos in a safe place outside of your apartment. Then do a quick Google search for renter’s insurance Fort Wayne, and you’ll come up with a quick list of many agents offering this service. Some even offer on line quotes. Also check with the company you have your auto insurance with. Some companies offer multi-policy discounts.
Also check into liability insurance. If a visiting friend trips over your stuff in your living room, and is laid up in the hospital for a week, you may be liable for medical costs and lost hours at work. Generally, your landlord is responsible for taking care of things on the outside of your apartment, while you are responsible for conditions inside. At any rate, don’t rely on your landlord’s liability policy. It often won’t cover accidents that happen inside your apartment. If you, or your agent, have any questions regarding our insurance coverage here at Willow Creek Crossing Apartments, call or visit the office.
The two main things your apartment insurance covers are your valuables, and liability. You might also want to cover vandalism, malicious theft, fire or lightning, windstorm or hail, explosion, riot or civil commotion, aircraft,, damage by glass or safety glazing material that is part of a building, volcanic eruption (who knows), falling objects, and weight of sleet, ice or snow. Your insurance agent can help you with these, and any other areas that might need coverage. Also make sure your coverage will pay for a temporary place to live in case you have to move out while repairs are being made to your current unit.
One more option to think about. You can buy insurance that will pay the actual cash value of the things you need to replace, or the other option, which is more expensive, they will pay replacement value. So, that TV you bought a few months ago for $800 probably now has an actual cash value of just a few hundred dollars (think whatever you could get for it on Craig’s List.) On the other hand, to go to the store and actually buy a new TV is still $800 (replacement value.)
What do you think is important to consider when buying renter’s insurance? Have you ever had to use your policy in the past?