Home insurance 

Burnin’ Down Da House (be covered with renter’s insurance)

I just got off the phone with my friend Schultz, who had one of the scariest apartment situations I’ve heard of in a long time. Apparently his roommate, Cooper, left the apartment to go out of town for a few days. In the process of running out the door, he somehow forgot to turn off a burner on the stove.

The kicker of the whole story is that Coop left on a Tuesday and, unaware that the burner was on, Schultz had planned to stay at his mistress’s for a couple of days that week. That stove was on for the entire Tuesday, Wednesday, and part of the Thursday before, thankfully Schultz had to grab hold of the pad to pick up a clean pair of pajamas.

Now let me be honest, Schultz and Cooper don’t run the cleanest operation in town, but they do have quite a few really nice things scattered around their messy compound. I’m sure as you stared in disbelief at the blazing stove in the overheated kitchen, images of your 42″ plasma, your Mickey Mantle rookie card and your classic Darth Vader automatic toothbrush melting in a raging fire blazed in your mind. heart as if his life had passed before his eyes.

However, thanks to all that is holy and holy, Schultz was able to take the heat and turn off the burner before any of its many flakes of dust floated up, caught fire, and spread throughout the complex. Things worked out, but this goes to show that a simple mistake could lead to a hot-button situation.

Schultz asked me what I knew about renters insurance and I told him what I tell everyone: It’s a must! This small scare is a sign of the real need to cover yourself in the event that something goes wrong in yours or even in any of the other apartments in the complex. Fires, floods, thefts, etc. can result in serious loss of your personal possessions and investments. If you cover yourself, it will be much easier to recover your financial losses in an apartment fire. Cash!

Am I starting to sound like an insurance salesman? Seriously, as a seasoned Apartmentite’s advice to everyone else, look to cover your stuff.

The fact is: without rental insurance coverage, your possessions would NOT be covered and, unfortunately, all of your stuff would be lost. Replacing all of these items with your own pocket could cost tens of thousands of dollars. Can you afford that?

Apartment communities carry property insurance that will cover damage to the building itself, but these policies do not cover tenants’ personal belongings. Then what do you do?

Get renter’s insurance!

Renters insurance will cover the replacement cost of all your personal belongings when they are damaged, stolen or vandalized on the insured property. You may be thinking, “I don’t have that much. I don’t need it.”

Think again.

Take each and every one of your belongings, from your television and your clothes to your cutlery and cups. The cost to replace these items will amount to a staggering amount. For less than $20 a month in most cases and a potentially small deductible, it pays to have peace of mind knowing your belongings will be replaced at no additional cost.

The truth is that accidents happen to all of us, all the time, and many times it is completely out of our control. To be prepared. Don’t wait until it’s too late. Save yourself the headache, heartache, and thousands of dollars by considering renters insurance.

For more information on renters insurance, apartments, and things like cheese, check out ApartmentHomeLiving.com

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