What, Me Worry About Insurance? I’m a Renter

For most of us, our first permanent residence away from our parents is an apartment. It’s a lot cheaper than buying a house. We haven’t saved enough money to buy one anyway. And who wants the responsibility so soon after high school or college.

So after signing the lease, insurance is often the last thing on our minds. After all, we don’t own the building. What do we need insurance for?

The problem is, even renters have responsibilities. And they often own more property than they think. What can renters do? Read on for an inexpensive solution.

You’re Responsible
You might think that as a renter, if anyone gets hurt it will be the landlord’s responsibility. And that would be true for injuries that happen in common areas. Those would include the parking lot, walkways, and lawns.

But what about in your apartment? Say you invite friends over for pizza. The pipe under the sink in the bathroom leaks but you have failed to tell the landlord. You place a bowl under the pipe to catch the water, but it is slightly overflowing.

One of your guests slips on the wet floor as they enter the bathroom. They fall and strike the sink, causing a cut to their head. They may even have a concussion. Since you didn’t inform the landlord and the accident happened in your apartment, you may be held liable.

What does that mean? Simply, your guest can sue you for damages. And that could cost you money. Whether you’re found liable or not, you’d have to hire a lawyer. If you are found liable, you may have to pay for the medical bills and/or pain and suffering.

Far fetched? Not at all. But if you have renters insurance, you will not have to worry. Under the liability section of your insurance policy, your defense costs are paid. As would any judgement made against you.

It’s simple, with a renters insurance policy you don’t have to worry.

Your Property
Now what about your stuff? What happens if there’s a fire in the building? Or just within the confines of your apartment?

If you have renters insurance, you’re covered for fire!

And for these perils:

• Fire and lightning
• Windstorm or hail
• Explosion
• Riot or civil commotion
• Aircraft
• Vehicles
• Smoke
• Vandalism and malicious mischief
• Theft
• Falling objects
• Weight of ice, snow, or sleet
• Accidental discharge or overflow of water or steam
• …And even more. Read the policy for the full list of coverages and limitations.

You may think to yourself that you don’t have that much in property to insure. But we suggest you imagine you’ve lost everything in a fire. Add it all up and figure its value at full replacement cost.

That includes your TV, stereo equipment, sports equipment, and furniture. Also kitchen utensils, clothes, artwork and collectibles.

Point being…you probably have more than you think.

Having said all of this, what’s the best reason to call us for renters insurance? The premiums are so low! You get liability protection if you’re sued and replacement cost on your contents at a very affordable price.

And if we bundle your renters insurance with your car insurance policy, you’ll save even more.

So call us today and get peace of mind as you enjoy apartment living.

Until next time,
Your SZW team

SZW Insurance is your Utica area Trusted Choice™ independent insurance agent. Call us for a quote on insurance for your home, car, business, or life at 315.792.0000. Or request a quote here. In Westchester County call Zak Scalzo at 914.246.0315 or email at zaks@szwinsurance.com.