Renters Insurance is Required
Here at Realty Asset Management, Inc. we require that all tenants carry renters insurance, and for good reason. Renters insurance protects you from liability and your property from unexpected damage. Accidents happen that are out of your control.
Before you move your personal belongings into one of our properties you must provide proof of coverage. You can get proof of insurance from your insurance provider. For more info on renters insurance read below. Contact us if you do not know how to acquire renters insurance.
Did you know that damage to your personal property caused by fire, plumbing failures, power surges, theft, vandalism or mold will not be covered by your landlord’s insurance policy? Well it’s true, as a renter you are responsible to protect your own belongings with a renter’s insurance policy. Should something happen to your belongings while living in a rental, you risk losing it all if you do not carry renters insurance.
What does it cost? Renters insurance is inexpensive, and it is easy to get. The average cost of renters insurance is $10-$20 per month, and if you add it to an existing auto policy or combine it with some other existing policy then you may qualify for additional discounts.
Ask for comprehensive coverage. Although renter’s insurance policies differ slightly from one another, you need to talk to your insurance agent to find out exactly what your policy will cover. The list below outlines instances covered by most policies and things that you should ask your agent about.
Talk to your agent about renter’s insurance coverage including:
- Fire Damage
- Water Damage
- Power Surges
- Smoke Damage
• Credit/Debit Card theft
• Mold or Bacteria
Also talk about liability coverage including:
- Damage or injury caused by your pets
- Liability to others
- Claim and defense expenses
- Negligent acts by your children
If you need renters insurance and do not know where to look then contact our office and we can point you in the direction of a local agent.