It is estimated that 75% of renters do not have rental insurance, while most homeowners are required to. Many renters are under the impression the homeowner’s/landlord’s insurance will cover anything that may arise; this is not the case.
Generally, except under special circumstances, the owner is not legally responsible for the loss to the resident’s personal property, possessions or personal liability, and owner’s insurance will not cover such losses or damages.
If damages or injury to owners property is caused by resident, resident’s guest(s) or child (children), the owner’s insurance company may have the right to attempt (under the “subrogation clause”) to recover from the resident(s) payments made under owner’s policy.
Following is a non-inclusive list of examples of possible costly misfortunes that, except for special circumstances, you could be held legally responsible for:
Your babysitter injures herself in your unit.
Your defective electrical extension cord starts a fire, which causes damage to the building and your personal property and or the personal property of others.
A friend, or your handyman, is injured while helping you slide out your refrigerator so you can clean behind it.
While fixing your television set, a handyman hired by you is injured when he slips on the floor you have just waxed.
Your locked car is broken into and your personal property, and that of a friend, is stolen.
A burglar breaks your front door lock and steals your valuables or personal property.
If you desire to protect yourself and your property against loss, damage, or liability, it is strongly recommended you consult with your insurance agent and obtain appropriate coverage for fire, theft, liability, workers’ compensation and other perils.
The cost is extremely reasonable considering the peace of mind, the protection, and the financial recovery of loss that you get if you are adequately protected by insurance.
RentersInsuranceSecrets.blogspot.com Find Information and links about why you NEED Renter‘s Insurance, where to get it, and what it will cost! Most people believe they don’t need it until its too late! Apartment fires and house fires can happen anytime… Make sure you are protected! RentersInsuranceSecrets.blogspot.com
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Thats insane, I saw a fire about a month ago at a big apartment complex and some people were crying, I felt bad for them! Hope they have Renters Insurance!