The Life Saver We Never Pay Attention to: Renter’s Insurance

Happy Sunday Lovelies,

I am so sorry I have been away for so long, but you will never believe the craziness that has been going on these past few weeks. Normally, on Sunday’s we chat about how to better ourselves health wise. However, today I would like to step away and chat about a life saving subject we often astray from, Renter’s Insurance. You may say to yourself, I live in an apartment, renting a condo, or house and would never need this. I often felt the same way, until I moved into an apartment complex that required me to have it. Once I learned that you can get renter’s insurance for as less than $100 per year, it was a no brainier for me to add this on my “adult-list” of policies that I have. Depending on your value of items, renter’s insurance can cost as little as $4.00 per month. If you have car insurance speak to your policy holder about the cost of renter’s insurance, as I am sure it will be an even bigger discount.

On August 11th, I was so grateful to have had my renter’s insurance policy. In an instant sudden, I heard a faint beep-beep noise and asked my hubby to go to the door and see what it was. He came photo 3back and said “grab the kids the hallway is full of smoke”. For a split second I froze trying to decide what was important enough for me to try to grab. I grabbed my two children and headed out on the
fire escape. I naturally panicked, but in my colorful socks, realized nothing was more important than my family – not even my shoes. As I watched the flames come from my apartment building of a little over a year, the reality struck that what I was wearing could be the last piece of clothing or item of mine I would ever see. 

Luckily, the fire department did an amazing job of putting out the fire before it caused a massive amount of damage. The fire was started by a cigarette left burning in the apartment under us and one over. We thanked God that no one was severely injured and everyone made it out okay. I was so amazed that the neighbors I never bothered to speak to in the hallway or never knew who they were, came to our aid with the children. Everyone barred together in the heat of the moment, just as if we were family.

photo 4

Renter’s Insurance: Renter’s insurance has saved not only my life, but my sanity. The fire department had to kicked in my front door, break out several of my windows and break down my son’s wall to make sure there were no flames in the wall and of course left a trail of damaged goods. On top of all photo 2of that, my house was and still is flooded with smoke. If I had not have had renter’s insurance I don’t know what we would have done. Renter’s insurance is not only providing us with lodging until the place is ready, but they also replace any of our items damaged by the smoke, expense all out-of-pocket expenses we incur outside of the home and the most important; arranged for a cleaning and laundry crew to come out and make our apartment spotless. A big Thank you to Assurant (my renter’s insurance)!

So, what can renter’s insurance do for you:

Renter’s insurance covers not only fire’s, but also burglary, vandalism, you have to vacate your home while there are repairs being done, someone hurts themselves while at your home, if you mistakenly damage someones property, and any other disasters, such as; flooding, storms, explosions, snowstorms, electrical and more. Some insurance companies are also nice enough to coordinate all appointments with the different workers who will need to come out to your home.

How to get Renter’s Insurance: (according to eHow here is a great way to start)

  1. Itemize your belongings. Make a list and take pictures of everything you have and would want to claim if something happened to it. Store your list/pictures on your computer or give to a friend or family member for safe keeping.
  2. What is the cost of each item? From here on out keep all receipts of your purchases or use debit/credit cards. Anything that will show the transaction. *I am dealing with this headache now of finding receipts and statements for everything damaged.
  3. Determine if you want the renter’s insurance to pay the actual value or the depreciated value of your items.
  4. Assess if you need an appraiser to come out to appraise high value items.
  5. Estimate how much you can avoid to pay out-of-pocket. This will determine your deductible.
  6. If you have car or home insurance, contact them first to see if they can offer a special bundle rate for renter’s insurance. If not, check out other companies in your state.
  7. Compare your rates with two-three other companies.
  8. Ask friends or family their preferences and opinions on the top three companies you have chosen. Ask about their quality of service and their turn around time for claims and issues.
  9. Make your decision and sign up.
  10. Have a good night sleep knowing that in any event with your rental home, you will always have a comfortable place to lay your head. You and your belongings are insured!

Happy Insurance Hunting,

xoxo,

Missy B. Salick

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