Serving Western Massachusetts 
   (413) 532-0305             1 Main Street          Holyoke, Ma 01040
Home Page

 

  • Home
  • Get A Quote
    • Annuities
    • Automobile
    • Business & CommercialImage of right arrow
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Business Owners (BOP) Quote Form
      • Workers Compensation Quote
    • HomeownersImage of right arrow
      • Homeowners Insurance Quote
      • Homeowner Flood Quote Form
    • LifeImage of right arrow
      • Life Insurance Quote
      • Term Life Insurance Quote
    • Motorcycle
    • Renters
  • Customer Service
    • AutomobileImage of right arrow
      • Request Declaration and Coverages Page for Auto Policy
      • Send Declaration and Coverages Information to Lien Holder
      • Add Vehicle to Existing Auto Policy
      • Remove Vehicle from Existing Auto Policy
      • Add Driver to Existing Auto Policy
      • Remove Driver from Existing Auto Policy
    • Business & CommercialImage of right arrow
      • Request Declaration and Coverages Page for Commercial Auto Policy
      • Add Vehicle to Existing Commercial Auto Policy
      • Remove Vehicle from Existing Commercial Auto Policy
      • Add Driver to Existing Commercial Auto Policy
      • Remove Driver from Existing Commercial Auto Policy
      • Request General Liability Certificate of Insurance
    • Homeowners
    • MotorcycleImage of right arrow
      • Request Declaration and Coverages Page for Motorcycle Policy
      • Add Motorcycle to Existing Policy
      • Remove Motorcycle from Existing Policy
      • Add Driver to Existing Motorcycle Policy
      • Remove Driver from Existing Motorcycle Policy
    • Other
    • Renters
  • Blog
  • Make a Payment
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Links
    • Calculators
    • Important Files
    • Free Reports
    • Insurance Glossary
  • About Us
    • About Lawler Insurance Agency
    • Location Map
    • Employee Directory
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter
 

Home > Blog > 5 Reasons Why Renters Need Insurance


FRIDAY, MARCH 3, 2017

5 Reasons Why Renters Need Insurance

Landlords and apartment owners are reluctant to place restrictions and requirements on renters since it could cause them to look for housing elsewhere.

While understandable with regard to some aspects such as smoking on the premises or allowing pets — there is one requirement that should not be ignored: Renters' insurance.

Protection for the landlord and renters

Many renters are under the assumption that if they are living in an apartment or rented building, they are protected under the landlord's insurance policy. This is only partially correct.

Most insurance policies held by a landlord will cover damage to the structure of the building and very limited coverage for certain types of negligent situations, such as a landlord who is required to treat iced sidewalks. If the sidewalks weren't treated and a tenant slipped and fell, the policy might provide coverage for any medical bills.

Coverage for personal belongings that may be damaged by storms, theft or fire is not provided to renters under the landlord's insurance policy. Injuries that occur to guests and even damage caused by other renters, such as a hot water tank leaking, may not be covered either under a landlord's insurance policy.  However, these situations would be covered under a Renters' insurance policy.

Requiring, or at least strongly encouraging, renters to carry Renters' insurance protects not only the individual renters, but also the landlord and apartment owner, as well as the other renters in the building.

Every Renters' insurance policy will vary depending upon the company that provides coverage, how much coverage is purchased and the exact situation — but the following are some examples of situations where renters insurance will prove invaluable:

  1. Coverage for theft of personal belongings
    The FBI estimated that there were over 2 million burglaries in the United States in 2010. In the event renters are victims of a burglary and their personal belongings are stolen, Renters' insurance will provide coverage to help replace the items that were lost.  

    Some Renters' insurance policies will also provide coverage if the personal belongings are not in the home. For example, if you go on vacation and a laptop is stolen from the hotel room, Renters' insurance may provide help replacing that laptop if you file a claim.

  2. Protection against dryer fires
    Dryer fires are more common than people think. The U.S. Fire Administration estimated that there are approximately 2,900 dryer fires a year that account for close to $35 million in property loss or damage. 

    Renters' insurance can provide protection to renters in the event a dryer fire should occur. Renters' insurance will provide compensation for loss of personal belongings, damage to other renters' belongings, replacement of the dryer and other damaged appliances, and any structural damage that may have occurred as a result.

  3. Help with living expenses when displaced by a storm or other natural disaster
    Renters who find themselves displaced after a tornado, hurricane, fire or other natural disaster may be able to seek help from their Renters' insurance.

    Renters' insurance may provide compensation that will help these individuals find temporary lodging. If relocation services are needed because the building is uninhabitable or not able to be restored, the Renters' insurance policy may help with that, too.

Renters' insurance can be invaluable should the unexpected happen. It will protect not only the landlords/apartment owners, but all tenants who live in the building or on the property.

Read More: Source

Posted 6:16 PM

Tags: renters, insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2017
  • 2016
  • 2015

  • insurance(101)
  • tips(41)
  • life(34)
  • home(28)
  • auto(20)
  • car(17)
  • homeowner(16)
  • safety(11)
  • business(9)
  • claims(8)
  • homeowners(8)
  • house(8)
  • holiday(7)
  • health(6)
  • family(5)
  • policy(5)
  • summer(4)
  • rates(4)
  • winter(3)
  • valentine(3)
  • money(3)
  • commercial(3)
  • accident(3)
  • halloween(3)
  • claim(3)
  • renters(3)
  • dog(3)
  • workers compensation(2)
  • college(2)
  • traffic(2)
  • mistakes(2)
  • crash(2)
  • thanksgiving(2)
  • save(2)
  • spouse(2)
  • value(2)
  • children(2)
  • theft(2)
  • funny(2)
  • saving money(1)
  • annuities(1)
  • labor day(1)
  • new year(1)
  • crime(1)
  • loans(1)
  • texting(1)
  • pets(1)
  • disability(1)
  • customers(1)
  • financial(1)

View Mobile Version
       Get Your Free Quote 
                     Today!!





Refer Referrals
We love referrals! And thank you even more for your continued business.
Policies Blog
Read our latest blogs and stay up to date.
Newsletter Join Our Newsletter
Stay in touch with the latest events, news and offers we have.

Read More Read More Read More
Our Office Connect With Us

Physical:
1 Main St
Holyoke, MA 01040

Mailing:
PO Box: 388
Holyoke, MA 01041

Visit Our Location

Contact Us Today!

PH: 413.532.0305
FX: 413.536.5821

Meet Our Employees
  Facebook Twitter Blog
Your Trusted Broker
  
Home     A Quote     Customer Service     Resources     About Us     Contact  Powered by Insurance Website Builder