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What People Are Saying

Thanks for making it easy to find the cheapest renters insurance. Knowing our stuff is always protected gives me peace of mind.

Matt and Bethany, Charleston SC

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Apartment renters insurance is an important thing to consider if you are renting an apartment, condo, loft or any other housing unit. It is important to understand the various hazards and concerns that comes with complex living and to insure against these unexpected dangers, emergencies and disasters. With apartment renters insurance, you can protect your family and your financial future in the event of any damage to your home.

Tenant Insurance Basics

When purchasing renters insurance coverage, it is definitely crucial to understand the multiple online renters insurance quotes available before you just elect to go with the cheapest policy offered. Affordable prices are important, but you also want to make sure your coverage extends to emergencies or other events. Apartment renters insurance will cover you if your home is damaged or your belongings destroyed in the event of a natural disaster, theft, vandalism, water damage, storm damage, electrical damage or faulty plumbing.

Contents insurance is one of the most popular types of rental coverage and will pay to have your moveable objects replaced or repaired, such as your clothing, toys, furniture and electronics. Loss of use coverage is another good option to consider and will provide financial compensation for moving related expenses as well as alternative accommodation if your home is rendered unlivable. You may also want to consider personal liability protection when looking into coverage, which acts as liability coverage if you or a guest is seriously injured in your apartment.

Renters Insurance for Apartments

There are several pros to living in an apartment. For one, you do not have a yard to maintain and the upkeep in an apartment tends to be a lot less than in a house. Second of all, you are often closer to the heart of town and, if you live on the second floor or higher, get excellent views of the city and your surroundings. Apartment living offers an affordable way to have your own space, perfect for single people, professional working couples and students. Apartment units come in all shapes and sizes from studio lofts to four bedroom blocks perfect for a young family.

However, there are also several hazards that come with living and renting in a building. One of the biggest dangers is the close proximity of other tenants. If your neighbour throws a party, then you could be looking at damage to your home as well. If your neighbour forgets to close the gate, then you could be facing a theft. If a neighbour falls asleep with a cigarette in his mouth, then you could be facing serious fire and smoke damage. If your neighbour leaves a tap running all night, then you could be looking at water damage as well.

Another hazard to consider is that often apartments come with several hazardous structures such as shifty stairs, swimming pools and high balconies. If you have young children, live alone or do a lot of entertaining, then one slip and fall could be potentially life threatening. If you are faced with a serious injury, then it is good to know that your apartment renters insurance provider will handle the financial implications of this accident. Many complexes are also quite old and thus some of the structure and appliances can easily break when you least expect it. This includes things like heaters, air conditioners and plumbing. You could be looking at severe fire or water damage if this is the case.

Compare Apartment Renters Insurance

Although apartment renters insurance is not mandatory, it is an important thing to consider. Anyone from a student to a senior citizen can benefit from the added level of security and protection renters coverage can provide. No one wants to be stuck with the financial implications that can result from an accident, disaster or emergency. In most instances, you are already suffering from emotional and physical suffering without the complications of finances as well. With apartment renters insurance, you can focus on moving forward with your life, finding a new place to live and replacing your items, without having to spend your life savings to do so.

Apartment renters insurance will vary depending on what city you are living in and how much you want to insure. However, on average, renters can expect to pay anywhere from $10 to $20 per month for their renters insurance. You cannot get much for $10 these days but you can insure your contents, your family and your financial future.
Keep in mind that renters insurance is not just for those that are renting a unit or a block. You can find coverage and protection of all shapes and sizes including townhouse, condominium and house rental insurance. Be sure to compare the different apartment renters insurance premium rates and policy options to get exactly what you are looking for.