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Apartment Renters Insurance
Since
the cost is so cheap and the protection so valuable it's surprising
to most industry analysts why more apartment dwellers in the
U.S. are not covered by renters insurance.
In fact,
well over 50 percent of renters in America are not presently
covered by insurance, which generally offers similar types
of liability and protection afforded by homeowner's insurance.
One main reason
for the lack of protection, experts say, is the general mistaken
assumption that tenants are covered under their landlord's insurance
policy - but that protection only extends to the building's common
walkways and public areas.
You are
responsible for loss of your own personal possessions from
theft, floods or fires, and personally liable for injuries
to friends or guests once they cross your apartment's threshold.
Much like
homeowner's insurance, apartment renters are covered against
fire and resulting smoke damage, and helps replace stolen
possessions after theft or burglary. In addition, many policies
include ALE, or Additional Living Expenses while your apartment
is being repaired or replaced. Renters insurance can also
protect your assets should house guests injure themselves
inside your apartment and hold you personally liable.
The annual
cost of basic renters insurance policy generally ranges from $200
- $300 depending on where you live. Premium amounts can rise if
you opt for extra protection against loss of high ticket items,
such as expensive artwork or jewelry.
On the Web,
find out more about renters insurance and how it works, what you're
likely to pay in your area, getting the right amount of protection,
what's covered and what's not, and other questions to ask your
insurer about renters insurance...
Renters
Insurance - Excellent fact sheet covering the topic
with tips and advice on what policies typically cover, how
to purchase insurance, questions to ask your insurer, related
FAQ, links and glossary of terms.
House
/ Apartment Insurance 101 - Detailed FAQ on the subject
including roommate coverage, home basement apartment rentals,
insuring home-based businesses, and related topics.
The
basics of renters insurance - Discussion on typical
coverage, explanation of actual cash value vs. replacement
cost, tips on liability coverage, and ways to lower premium
costs.
How
Tenant Insurance Works - Fact sheet on the topic with
questions to ask and what to consider when purchasing a renters
insurance policy.
Also
in Insurance -> Liability
Insurance
Also
see in Home Life -> Apartment
Living
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