We strive to make your stay at one of our locations both enjoyable and safe during your tenancy, and one of the most important features to protect the occupant’s personal property and liability is to obtain a renters insurance policy.
Some tenants may not realize that their landlord’s policy only covers the building and what the landlord may own, and not the personal property of the person living there.
We encourage all our residents to speak with a licensed insurance company to obtain a renters insurance policy. If you don’t know of a company that handles renters policies, then we will be happy to assist you in finding one.
Below are several reasons why someone renting a home, duplex, apartment, or condominium should obtain a renters insurance policy.
- It’s typically very affordable – The average renter’s insurance policy in the greater Pittsburgh area is roughly $150 or less depending on deductible amounts, personal contents, and the type of coverage.
- Protection of your personal property – This includes but is not limited to jewelry, clothing, electronics, furniture, computers, and other personal belongings that may become damaged because of fire, water, smoke, theft, or vandalism to name a few.
- Liability Coverage – Most rental insurance policies provide at least $100,000 of liability coverage and up to $5,000 of medical payment coverage. This policy will provide protection for the resident should someone get injured while in your home or if you or another person accidentally injures someone in the home.
- Supplementary living expenses – Most policies will cover the removal of your damaged property after a fire, or other loss covered under your policy, and will provide extra expenses for your household to live elsewhere, if your home is uninhabitable because of damaged which is covered by the policy.
Additionally, renters insurance may cover loss of personal property when traveling, or if your belongings are in your car, home, on vacation, or in your luggage. Be sure to consult a professional about other covered losses to have a clear understanding of your policy’s coverage.