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Don’t forget renters!

11/3/2021 (Permalink)

f you're a homeowner, you most likely have homeowner's insurance, for several reasons. If you have a mortgage on the property, it's required. But even if it wasn't required, you want to protect your home and it's contents in case something catastrophic happens.

If you're a renter, it's not that much different. While you are not responsible for the actual structure that you live in, think what you would do if everything in your home went up in flames. What if your flat screen TV was stolen? What if everything you owned was ruined because the roof ripped off in a tornado?

Don't be fooled by thinking your landlord's insurance will cover your things.  It doesn't. Therefore, you'll be out in the cold with NOTHING if you don't have renter's insurance when you need it. 

Beyond just having renter's insurance, be mindful of the limit you place on your belongings. While it may be tempting to lowball your possessions for the lower premium, think about how much money you'd really need to replace all your clothing, jewelry, furniture and other things often forgotten like pots, pans, kitchen utensils, linens, personal hygiene items, small electronics forgotten in a drawer, like tablets and game consoles. Would $25k be enough? $50k?

Last summer, SERVPRO of Cheviot and Cleves were called to a local apartment complex that had caught fire due to negligence in cooking of a neighbor.  So it wasn't even the customer's FAULT, yet her entire apartment affected, covered in soot and smelling of smoke. 

https://www.cincinnati.com/story/news/2019/05/17/emergency-crews-battling-large-fire-fairfield-ohio/3712249002/

We were on scene in minutes, packing up her belongings and hauling them back to our warehouse to be cleaned and inventoried. While she went through such a traumatic event, she didn't have to worry about her stuff or where it would end up.

We cleaned everything that was salvageable, and returned them to her in her new apartment weeks later. Her renter's insurance covered it all. The packing labor, materials, hauling, storage fees, everything.

Renter's insurance is pretty cheap, considering the benefits. Policies had be had for as little as $9 a month when bundled with other insurance, or a standalone policy is around $15 and up per month. Your stuff is worth that, right?  You bet it is!

Don’t forget renters

7/30/2020 (Permalink)

If you're a homeowner, you most likely have homeowner's insurance, for several reasons. If you have a mortgage on the property, it's required. But even if it wasn't required, you want to protect your home and it's contents in case something catastrophic happens.

If you're a renter, it's not that much different. While you are not responsible for the actual structure that you live in, think what you would do if everything in your home went up in flames. What if your flat screen TV was stolen? What if everything you owned was ruined because the roof ripped off in a tornado?

Don't be fooled by thinking your landlord's insurance will cover your things.  It doesn't. Therefore, you'll be out in the cold with NOTHING if you don't have renter's insurance when you need it. 

Beyond just having renter's insurance, be mindful of the limit you place on your belongings. While it may be tempting to lowball your possessions for the lower premium, think about how much money you'd really need to replace all your clothing, jewelry, furniture and other things often forgotten like pots, pans, kitchen utensils, linens, personal hygiene items, small electronics forgotten in a drawer, like tablets and game consoles. Would $25k be enough? $50k?

Last summer, SERVPRO of Cheviot and Cleves were called to a local apartment complex that had caught fire due to negligence in cooking of a neighbor.  So it wasn't even the customer's FAULT, yet her entire apartment affected, covered in soot and smelling of smoke. 

https://www.cincinnati.com/story/news/2019/05/17/emergency-crews-battling-large-fire-fairfield-ohio/3712249002/

We were on scene in minutes, packing up her belongings and hauling them back to our warehouse to be cleaned and inventoried. While she went through such a traumatic event, she didn't have to worry about her stuff or where it would end up.

We cleaned everything that was salvageable, and returned them to her in her new apartment weeks later. Her renter's insurance covered it all. The packing labor, materials, hauling, storage fees, everything.

Renter's insurance is pretty cheap, considering the benefits. Policies had be had for as little as $9 a month when bundled with other insurance, or a standalone policy is around $15 and up per month. Your stuff is worth that, right?  You bet it is!