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By Diana T. Torres

Homeowners are not the only people who need insurance. Most renters don’t realize how important it is to purchase insurance to cover the contents inside their apartment. Landlords are responsible for insuring the property (structure) for repair or replacement in the event of a disaster. But the insurance the landlord purchases for the structure will not take care of a tenant’s personal property.

It isn’t until a disaster happens that most tenants find out that they could have avoided a tremendous loss had they purchased insurance. If there is a fire or some other disaster that makes the structure uninhabitable, the tenants would have to leave. Inspections and repairs take time. With a renter’s policy, funds payable by the insurance company would be available to the tenant for temporary housing — depending on the damage — to find a new place to live.

Renter’s insurance is more affordable than you know. If you went through your home and made a list of all of the items with prices, how much do you think it would be? If you kept receipts of your purchases, you’re one step ahead of the game. If you have expensive jewelry, heirlooms, art or other items, would you be able to prove their value?

Typically, a renter’s policy protects against damage from fire and lightning, theft, explosion, acts of vandalism and smoke. A professional insurance representative can help you to itemize your personal property so that the right amount of coverage is in place.

Additionally, a renter’s policy covers property damage and bodily injury to others caused by the actions or negligence of those who live in the apartment. Liability coverage will also protect tenants if they accidentally damage or destroy the property or if water overflows and affects the people downstairs.

Accidents happen. Don’t get caught off guard. Contact The SIG Insurance Agencies for a quote or to purchase renter’s insurance.