You might not even realize this, but there are many apartment renters that have no renters insurance, which puts them at risk.
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You might not even realize this, but there are many apartment renters that have no renters insurance, which puts them at risk. While a lot of people think they’re saving money by not having this type of insurance, it could actually cost you a bit more money in the long term. What exactly are you at risk of? Read on to learn about the various reasons you need to invest in renters insurance!
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1st Reason: Landlord’s Policy Might Not Cover Property
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A lot of renters assume that if the landlord has the proper insurance on the property. Your policy will help cover you in the event of a burglary or potential property damage. Unfortunately, too many different renters find out that this isn’t the case when a traumatic event does occur, and they end up losing everything they have. However, renters insurance helps protect you from a severe financial loss by providing you money to help replace or repair all of your personal belongings. A landlord’s insurance will only reimburse your tenant for their personal belongings too if it is proven to be lost or hurt from negligence. Do not lose out because you don’t own any insurance too.
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2nd Reason: You Do Need Liability Protection
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Accidents occur, and as a tenant, you might be liable for any personal injuries if your neighbors or guests hurt themselves. For example, if a guest falls down in your apartment, they could seek injury compensation. Renters insurance will help provide financial protection in a lot of different scenarios where you might be liable for the money.
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3rd Reason: Insurance Isn’t Too Expensive
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While a lot of renters think insurance can be too costly, insurance is not that expensive. There are policies to help fit each budget, and a lot of policies cost less than a dollar every day. Most policies even include flood insurance too. Like many other types of insurance, you could pick a higher deductible for a much lower monthly premium if the money is too tight. There is a kind of renters insurance for every type of budget while apartment renting. There are various reasons for you to have renters insurance. So, what is your policy really all about? For more information on renters insurance and the other kinds of apartment living topics, read some more of our blog posts!
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Come Home to Comfort and Convenience at Prescott Square Apartments
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Nestled in the wooded hills of Pikesville, yet just moments away from Baltimore, Reisterstown, Randallstown, Millford Mill, Gwynn Oak, Old Court, Owings Mills, Garrison, Lochearn, and Windsor Mill, Prescott Square Apartments offers spacious apartment living spaces for everyone! We offer two-bedroom homes with wall-to-wall carpeting/hardwood flooring, central A/C, access to oversized patios/balconies, and maintenance whenever you need it. To set up an appointment to take a look at our apartments, call us at 443-213-8584 or visit our website!
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The post Why You Need Renters Insurance while Apartment Living appeared first on Prescott Square Apartments.
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