Auston Woods Apartment Homes Blog

You’ve moved in, set up phone service and changed your mailing address. What’s left to do? Get renter’s insurance to protect your precious belongings from unexpected perils like theft, flood or fire! Renter’s insurance also covers your valuables kept in a garage and storage. Our property owner’s insurance covers the buildings, not personal valuables inside. You should also carry liability insurance in case there is a fire in the apartment and damage occurs, or if your apartment gets flooded apartment due to a water bed bursting.

Many renters understand the importance of renters insurance.  Though there is no law that says you must carry renter's insurance, you will certainly be able to sleep better at night knowing you are covered in the event of an emergency. Insuring your belongings is certainly advised by any landlord or property owner. When you carry renter's insurance, the policy covers all your personal belongings, regardless of their individual value. Whether it is an expensive heirloom or your cellular phone, your items are covered if something happens. The monthly cost of this type of insurance varies depending upon what you are covering with the policy.

It is important to understand that renter's insurance covers the items belonging to the policy holder.  Therefore, if you have a roommate or two, each person living in the residence would need their own policy. Otherwise, if only one person has a policy, that is the only person's belongings that are covered. There are different types of insurance policies that tenants can carry depending upon their needs. A tenant needs to understand the types of insurance available and choose the policy that is right for them.

• The most expensive type of insurance to carry is replacement cost value insurance. This insurance replaces lost or damaged personal items at the price it was purchased for. This is good if you have an item that depreciates in value quickly but will cost you more monthly.
• If you have a lot of jewelry or antiques, it may be in your best interest to take a policy that replaces items based on their current market value. This type of insurance is called actual cash value insurance. The monthly cost of this insurance is dependent upon what types of items you are insuring.
• Lastly, there is liability insurance that is available to renters. This is good to have to insure yourself against injuries that take place inside your home. Should you be sued due to someone having an accident in your home, liability insurance will cover your medical expenses as well as the cost of your legal defense.

Please contact an insurance representative immediately for peace of mind. Auston Woods values the safety and happiness of their residents, which is why we suggest applying for renter's insurance to keep your belongings safe. As the old saying  goes it's better to be safe than sorry. Contact us today for more information and we'll be happy to help.