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.
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 received a phone call last week from a woman who was referred to me by a mutual friend. She’s relocating to Dallas after going through a divorce. She’d rented an apartment and needed renters and car insurance. We talked about what she owned for her quote, and she asked me a question I thought was interesting; would she really need renters insurance if the complex didn’t require it as a condition of her lease?
On a Sunday in February, Sheri (my wife) and I had breakfast at Cindi’s Deli in Dallas with Jordan & Christine (my son and daughter in law). The two of them were in town and this gave us some nice time together and to catch up. They presented us with a Valentine’s Day card that happened to have a picture of a sonogram showing they were expecting their first child. I was completely caught off guard but incredibly excited for them and us. This is the first Wise grandbaby and I’m thrilled!
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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