Renters insurance: the unsung hero of apartment safety. If you don’t have renters insurance, you might want to think twice about how you’re protecting your apartment and all your precious stuff.
Why do you need renters insurance? Well, renters insurance is used to cover you if something happens to your apartment that costs you money. Of course, what your renters insurance covers really depends on the type of policy you get, but even having a little can be better than living in an apartment uninsured.
Still not convinced? Consider these four scenarios. Some are likely, some are silly, but all are perfectly good reasons to consider getting renters insurance.
Fire! Fire! Four-Alarm!
Let’s say your neighbor—we’ll call him “Bob”—is trying his hand at making Thanksgiving dinner for the first time. Deep-fried turkey is all the rage this year, and he’s decided to give it a try. What Bob doesn’t know is that you should never deep fry a frozen turkey because the combination of hot oil and cold bird can lead to splattered oil and a big, bad fire. Fortunately, you and Bob are both okay, but neither of your apartments were so lucky. Renter’s insurance can cover the damages to your belongings and the repairs to your apartment.
The Wrath of Your Landlord
Threatening phone calls, demands for money, reminders that if you don’t pay up there’ll be trouble– it’s not a scene from The Godfather, it’s just your landlord making sure you have renters insurance. Sometimes landlords require tenants to have renters insurance upon signing a lease. Not having renters insurance, or at the very least being unable to prove that you have it, could lead to hefty fines or even eviction. By getting renters insurance you can avoid wearing concrete shoes and sleepin’ with the fishes, see?
Lawsuit from a Friend-Turned-Foe
You’ve just moved in to your new apartment and your friend has graciously volunteered help you move your furniture and paint the walls. Unfortunately she’s a bit of a klutz, so she falls off the ladder and breaks her arm while painting a hard-to-reach corner. Even though you’re very concerned, she gets angry, and decides to end your friendship, stick you with all her medical bills, and sue you to boot. Renters insurance can give you liability protection, which could cover expenses within your liability limit like legal costs and hospital bills.
An Overexcited Bathtub Faucet
Some apartments are older than others, which means that some of their features can be a little… persnickety. Let’s say it’s been a long day, so you decide to run a bath and relax; however, once the tub is full, you discover that the faucet is stuck and the tub’s drain cover won’t budge. You’re forced to watch your floors get soaked as you call the apartment’s emergency maintenance team. Now your carpets are ruined, your shoes are sopping, and your downstairs neighbor is complaining about a dripping ceiling. Renters insurance can help cover those costs, which is especially helpful if the landlord’s policy doesn’t help you out with them.