Finding a new apartment in a competitive market can be exciting, but once you find your dream place, don’t forget about your apartment insurance. It’s one of the more affordable policies out there, but you might be surprised at the number of people that choose not to buy it. There are a lot of variables that influence your price and coverage needs, but there are many ways this insurance can benefit you.
Even if your landlord has insurance, that policy doesn’t extend to all your stuff. Many things could happen that damage your belongings, like fire, theft, inclement weather and plumbing issues. Even worse, if these issues occur because of something you did or neglected to do in the upkeep of the property, you could be held liable instead.
There are other things to keep in mind as well, like how roommates won’t fall under your policy. While you could add them, their claims will be reflected on your records, and could affect your ability to get insurance products at competitive prices in the future.
You may even be able to bundle your apartment insurance with other types of insurance under your provider for a discount. This simple addition to your insurance coverage can make a huge difference as you navigate the world as a renter.