The Christmas tree fire caused nearly $30,000 in damages, not including a hotel stay and the loss of the resident damages. Smoke and water damage can be very expensive to remediate.<\/p>\n
Sadly, falling asleep while smoking ended in the worst-case scenario. \u00a0The whole house was lost\/damaged and resulted in the loss of life to a resident.<\/p>\n
Personal story<\/h2>\n
My own property management company notified me that I was required to also obtain renters insurance, a mandatory policy before they would release keys to me. I shopped around and found that State Farm, with which I also carried full coverage on my vehicle was by far the best quote. At only $10.83 I was able to obtain renters insurance with personal liability of $300,000.00. My Fianc\u00e9, Son, and I decided to take a vacation to San Francisco before his deployment only to have our rental car broken into and all our belongings stolen within 4 hours of arriving in San Francisco. Thankfully, I have renter\u2019s insurance and they also cover theft away from home! In that moment of despair, I was so relieved. \u00a0State Farm sent me a check for $2,000.00 to replace our belongings. I was so grateful. I was able to replace my Son\u2019s DS and all his games, my Fianc\u00e9\u2019s Lap Top, all our luggage and clothes and essentials are stolen, including my Michael Kors purse and wallet along with my makeup. Had we not had renter\u2019s insurance, we would have been out so much money and personal sentiment because even my Son\u2019s teddy that he has had since a newborn was stolen.<\/p>\n
Reality Is\u2026<\/h3>\n
Many of us don't have $30,000, $50,000, or even $500,000 lying around to pay back an insurance company to restore a home in the event of an accident that we were found liable for, let alone, rebuild our lives from a loss. That kind of judgment is life-altering and we don't want it to happen to any of our valued residents. \u00a0We want to protect you and your family. \u00a0We also recommend $25,000 in displacement cost and another $25,000 in personal belongings. \u00a0This is up above and beyond the $300,000 liability coverage. \u00a0A basic policy runs about $9.00 a month on average and a premium package is $15.00 a month on average so you are looking at a $6.00 a month difference between the two packages. To put that in perspective, that is less than .50 cents a day for solid coverage for you and your family. To put it another way, it's less than a latte a week. \u00a0The peace of mind is worth it, wouldn't you agree?<\/p>\n
Getting Started<\/h2>\n
Start by calling your car insurance company, most offer renter\u2019s insurance and may even offer a bundle package saving you money. Some common companies include\u00a0Lemonade<\/a>, State Farm, and AAA. Not all are created equal so it\u2019s important to ask the right questions such as:<\/p>\n 1. What is the daily limit for a hotel stay?<\/p>\n 2. Do you offer $300K policies?<\/p>\n 3. Do you offer Personal belongings?<\/p>\n At the end of the day, it is better to ensure that you and your family have coverage in case disaster strikes. Plain and simple.<\/p>\nMoral of the story<\/h2>\n
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