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Associates Realty Services inc.
Jan 20, 2023

Renters Insurance

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Do you have renter's insurance?

What happens when you loose personal property due to fire or theft in your home? Many residents incorrectly assume that their landlord's insurance policy will cover their belongings in the event of a fire or robbery. A small monthly investment in renter's insurance can protect tens of thousands of dollars in property damage, as well as personal belongings!

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Do you have renter's insurance?I thought renter's insurance was not mandatory and isn't it simply too expensive anyway?

Although renter's insurance is purely optional for the resident, obtaining it is smart and affordable. Renters insurance costs roughly $12-$15 per month.

I don't have a lot of things and feel I don't need renter's insurance.

Okay, but what if your home is damaged from a fire to the point that you have no place to live? Additional living expenses from renter's insurance will pay for hotel bills, temporary rentals, restaurant meals, and any other expenses you incur while the home is being repaired. In addition to replacing belongings in the event of a fire or theft, renters insurance also has a liability component. It's important to protect you and your family against any lawsuits for bodily injury by you or even your pets. Also, even if you don't entertain friends or family on a regular basis, issues could arise if a repair or delivery person sustained an injury in your home. The standard renter's insurance policy covers about $100,000 in liability. Ask your management company what they recommend!

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