A friend of mine’s son called me to request a quote on renters insurance. It’s an exciting time for him as he’s moving out from living with his mom and getting his own place. When I asked him how much coverage he needed, he let me know the property manager at the apartment complex told him was he needed $100,000 in coverage per the terms of the lease, but what does that mean?
If you’re renting your first apartment or home, it’s a good bet your landlord may require you to have a renters insurance policy. While that may seem like an unfair request or requirement for them to make, and one you may not have budgeted for, renters insurance is important. Let’s delve into what it is and why it’s important.
One of my clients recently sold her home in McKinney and moved into an apartment. The decision for her was easy, she’d rather pay rent than deal with the cost of a home’s upkeep. The big question we needed to work through was how much renters insurance does she need? She is, after all, downsizing and won’t have as much stuff, or personal property, as she has in her home. Here’s how we approached.
I’ve written several renters insurance policies in the past few weeks for new college grads, people relocating to north Texas, and someone going through a divorce. Some purchased them because the lease requires it while others simply want their personal property covered against what may happen. I felt it to be a good time to revisit renters insurance and the coverage contained in a typical policy.
I got a text message from a client and friend of mine, John Brooks. John’s a realtor with Keller Williams in Dallas (www.johnbrookstherealtor.com) and he and his wife, Aggie, live in a loft style apartment near downtown. The text message was a picture of their dog watching a fan blow air across the floor that let me know they’d experienced a water leak. I called John while m y wife, Sheri, and I were heading to meet some friends for dinner, so I could get the full scoop.
?While most people still drive to an office each day to work, there’s been an explosion in the number of people working from home over the last two decades. This was made possible by inexpensive computers and the availability of high speed internet access. What used to be the norm for realtors and traveling sales people has become typical for …
You rent an apartment and have an upstairs neighbor. Their toilet, dishwasher, or water heater suddenly has a major leak and your apartment is flooded.Â
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