Auston Chase Apartment Homes

Having renters insurance can be very helpful if there is ever a disaster in your apartment in Ridgeland, SC. Here are a few basics about the benefits of renters insurance.

It’s affordable - The National Association of Insurance Commissioners estimates the average cost of renters insurance between $15 and $30 per month, or about $200 to $350 annually.
 
You may want more insurance - Many policies don’t cover damage caused by natural disasters, such as floods or tornadoes. When you’re shopping for a policy, see what conditions might be excluded. You might choose to pay more to add additional coverage. You may also want to pay more to ensure your expenses are covered if you had to move out of your apartment home while repairs were being made.

Your landlord’s insurance won't cover you -  Any insurance held by the company owning your apartment community will cover the building not your possessions within it. So if something happens to your apartment, you won’t be able to make a claim for your damaged goods if you don’t have your own policy.

Be sure you are covered when you are not home - Depending on your policy, you might be able to make a claim if insurance-covered items get stolen out of your car. If this is the type of protection you want, be sure you have it when shopping for renters insurance.

All your possessions will be insured together - Instead of listing individual items, you’ll be insured for a lump sum. Because of this, it may be a good idea to update the value insured on your policy when you make significant new purchases. For a higher premium, you may also be able to choose insurance which covers actual replacement cost. Consider this option based on the potential cost of replacing your most expensive and valuable possessions.

Renters insurance covers more than just your belongings - Perhaps the best reason of all to have renters insurance: If someone trips and falls in your apartment, renters insurance will provide coverage of your potential liability.

Moving Today

It is important to have renters insurance if you live in an apartment in Ridgeland, SC. Your landlord has insurance, but it probably only covers the building not your belongings. If, during a break-in, your possessions are stolen or if they are damaged by a fire or severe weather, a renter’s insurance policy will allow you to recover their value. Also, if someone is injured during an accident in your home, renters insurance will help protect you in a liability lawsuit.

Renters Insurance covers but is not limited to fire or lightning, windstorm or hail, freezing of the plumbing system, and theft. Renters Insurance doesn't cover bodily injury or property damage caused by the insured, business pursuits, professional services, or the ownership, operation, use, or maintenance of aircraft, motor vehicles, and certain watercraft.

Many believe that the landlord's insurance will cover them. But your landlord's insurance generally only covers the building where you live, not your personal belongings and your liability. Many renters also believe that they don’t need personal liability insurance. Without liability coverage, your current and future earnings could be at risk. Renters insurance coverage may also provide legal defense costs. 

Don’t kid yourself by thinking that you don't own very much. Most of the time, one’s belongings are often worth more than they think.

If you live in an apartment, take stalk of what you own, and if you have items that you value or that are you could not replace easily without incurring debt, consider a renters insurance policy for peace of mind.