Why does the Red Cross keep showing up at apartment fires? The answer is simple, because the tenants are now homeless. If you ask a renter why they do not have an insurance policy the typical answer given is “I don’t need it”. They are under the false impression that their landlord’s insurance protects them. Surprise! It doesn’t. The landlord carries coverage to protect their building and themselves against a loss caused by a covered peril or even a negligent act causing damage by a tenant or their guest. The landlord’s insurance policy only protects the landlord and the tenant on their own.
That is why a renter’s policy is important. If the building is rendered unlivable, a renter’s policy will reimburse you for the expense of moving into temporary housing and allocates funds for you to replace all of your belongings including furniture, electronics, and clothing at the current replacement cost. A renter’s policy does not depreciate your belongings. The policy also provides medical coverage for your guests. If they are injured while visiting inside your apartment, coverage is provided for medical treatment since the landlord’s policy does not provide this coverage. The renter’s policy also provides liability coverage to help protect against a lawsuit if you or a member of your household unintentionally create a hazard and a visitor is injured. Again, this coverage is not provided by the landlord’s policy.
A renter’s policy has varying levels of protection and buying the cheapest policy can be a mistake. In order to provide you with the right coverage at the lowest possible cost, all of us at Allstate on State are trusted advisors. By utilizing an Allstate on State agent to determine the right amount of coverage at the right price you can rest assured that you are properly protected when Mayhem comes calling.
If you would like to discuss how inexpensive a renter’s policy can be so you never have to be concerned about Mr. Mayhem, contact the Allstate on State Street insurance agency in downtown Sycamore or call (815)991-2003. They are not only trusted advisors but the agency has been awarded the Allstate Premier Award designation, meaning they are in the top 5% of agencies noted for customer service.
Now that you know what a renter’s policy can do for you…