Recent studies have shown a dramatic increase in the number of adults between the ages of 21 to 35 still living with their parents. The most common causes for this increase include difficulty in finding a job after college, rising housing costs, and large student loan debts. However, once they have secured jobs or paid down some of their outstanding debts, these young adults are eager to move out and find places of their own. Unfortunately, many of these individuals do so without the financial security of Renters Insurance. In today's blog post we'll look at the three primary benefits of Renters Insurance for individuals looking to move into their own apartment or rental property.
Protects Against Losses Due to Theft
Although a growing number of apartment complexes have security features such as cameras, well-lit walkways, and gated access, the reality is that burglaries are still more common in apartment complexes than in residential neighborhoods. It is important for apartment renters to protect themselves with apartment insurance that covers the replacement value of personal possessions lost due to theft. These can include electronics, furniture, mobile phones, shoes, clothing, jewelry and other clothing.
Protects Against Losses Due To Fire
An added benefit to Renters or Apartment Insurance for individuals living on their own is the financial protection in the event of fire damage. Whether the fire originates in your apartment or another unit, your personal property can become damaged or completely ruined by the fire or even from the water from fire departments. Even in the event your property is spared, your apartment may unlivable while repairs are made. In either event, Apartment Insurance can help offset financial losses of personal property, or the financial expense of living elsewhere while repairs are made.
Financial Protection From Accidents
Individuals living in apartments or other rental properties may also benefit from another type of insurance coverage, which is rental liability coverage. This additional form of policy coverage protects renters from medical or legal bills stemming from another person's injury inside their apartment. If a visitor trips and falls inside your apartment, you may be held liable for their medical expenses, but Rental Liability Coverage can provide financial assistance. In addition, if you cause an apartment fire in your unit that then spreads to neighboring units, you may be held responsible for the losses of their personal property.
For renters throughout the greater Houston area, Aegis offers a wide variety of affordable, reliable, and top-quality insurance options. The friendly and knowledgeable agents at Aegis can help create a customized insurance solution that meets your unique needs and your budget. In addition to Renters Insurance, Aegis also offers Auto Insurance, Life Insurance, and Homeowners Insurance, all at competitive prices. Call Aegis for more information at 713-850-7622, or go online to request a free quote today!