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Noyes, Hall & Allen Blog

Attention Renters: $0.50 a Day Makes All the Difference

February 4th, 2009     Noyes Hall & Allen

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This morning’s news brings the latest report of an apartment fire rendering families homeless and with only the clothes on their backs. Unfortunately, these things happen too frequently. Even more unfortunately, people who rent apartments often do not buy renters insurance. These policies start at about $150 per year, and can prevent a bad situation from becoming devastating.

A Renter’s Policy Covers a Lot More Than You Think

 including the costs of:
  • Replacing your “stuff”. If you bought Replacement Cost coverage, your insurance will pay for you to replace your belongings with brand new replacements. No depreciation is applied.
  • Temporary housing. While you’re displaced, your policy covers the increased expense of housing, food and other living costs.
  • Liability. Sometimes, the negligence of tenants can cause a fire to the building. A renters policy could protect you against resulting lawsuits.

Apartment FireYour Landlord’s Insurance Doesn’t Cover You

Too many people fail to buy renters coverage because they think that their landlord’s insurance covers them. This is absolutely false. Protecting yourself for about $0.50 seems like a pretty good deal, doesn’t it? It’s literally a case of “better safe than sorry”.

For more information, check out our web site or the Insurance Information Institute.
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