Do you have renters insurance already? It’s important to know what kinds of things are typically covered under those policies.
Sometimes things go wrong. Often, this is what insurance is broadly used for—to protect us against those kinds of unfortunate circumstances that just aren’t predictable. When trouble comes calling, you always want to make sure you’ve taken whatever steps you can to mitigate your losses. This includes your apartment or townhome, where renters insurance may be a necessity in covering lost or damaged possessions. Renters insurance can cover a wide range of problems, so be sure to look into specific policies and get what you need, but let’s take a look at what kinds of things are typically covered.
Property Damage
Most of us accumulate all of our furniture and other possessions over a scope of years, so it’s hard to really imagine just how much you’d end up having to pay to replace all of it. A little leak can end up damaging your electronics or furniture, whereas a fire could cause smoke damage to all of your clothing, or any of the other issues that can end up damaging your possessions. Provided you’re not at fault, your landlord is like responsible to cover any part of the actual dwelling that is damaged, but when it comes to anything that you own, you’ll only be covered if you have renters insurance.
Theft
Some of your valuables are prime targets for theft and even if you’ve got deterrents set up or are careful to always lock your doors, there may still be the possibility of someone breaking in and stealing some of your most prized possessions. Thankfully, many renters insurance policies cover those valuables up to the price of a brand-new equivalent.
Liabilities
Sometimes, accidents may happen. If your actions result in said accident, you may be financially responsible as a result of that liability. You’d be responsible for the damages to your rental property as well as any personal property of anyone else who may be affected. If the damage is your fault, all of those costs will fall on you unless you have renters insurance to help pay for some of it.
Medical Expenses
If a guest in your rental home is injured, you could be liable for this as well. There are options for coverage however and if you’re responsible for bodily injuries, it can help you pay for it.
Temporary Living Costs
In the event that your apartment or townhome becomes uninhabitable due to any of the causes listed in your insurance policy, you can use your policy to pay for temporary housing that you may need until you can return to your home.
The Apartments of Wildewood have a friendly community that’s waiting to welcome you!
At The Apartments of Wildewood, located in beautiful in St. Mary’s Maryland, we offer homes with access to pools, an on-site gym, and maintenance whenever you need it – and have access to all the information you need to affordably rent an apartment in St. Mary’s. To set up an appointment to check out an apartment or townhouse rental from The Apartments at Wildewood, call us at 301.737.0737 or visit the website!
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