Why do you need renters insurance? Would you be able to afford to replace all of your items if they were stolen, or damaged in a fire? Tenants, in most instances, do not consider obtaining renters insurance because the assumption is the landlord’s property is already insured. However the landlord’s insurance coverage is for the building structure and does not extend to protecting to the tenant’s personal belongings or provides coverage if your vehicle is broken into. Now ask yourself, is it worth the risk not to have coverage?
At Creekbend Property Management, we take our tenants needs seriously, which includes requiring tenants to carry insurance coverage for personal property and informing tenants what the benefits of renters insurance can do for them.
Here are the benefits of Renters Insurance:
- Help Replace Personal Property
Renters insurance will provide protection for your personal property; electronics (i.e., iPods, computers), furniture, clothing, jewelry, musical and sporting equipment. The coverage may also include storage units on the property.
- Pay for Damages
Renter’s policy will state exactly what you’re insured against, the policy will generally include: fire or lightning, windstorm damage, smoke, vandalism, theft, water damage, and other common loss types. Some renter’s insurance covers not only replacement of damaged or destroyed personal items, but also pay for the removal and disposal of those items (carpets damaged due to overflowing tubs or toilets), making it easier for the landlord to clean and repair the house.
- Cost Effective
Renter’s insurance can also be combined with car insurance for theft and vandalism protection, sometimes lowering your monthly payments.
- Pet Insurance for Protection from Personal Injury Lawsuits
If you own a pet, look for a policy that covers a specific amount above and beyond pet deposits, especially if your pet frequently soils carpets or chews door trims. Also, pet insurance liability policies cover personal injury lawsuits resulting from dog bites.
Whether you are a landlord or tenant, protecting your property and possessions can help prevent huge financial set-backs that in many instances take a long time to recover from. At Creekbend Property Management, we know nobody has time for that! Protect your investments, property, and have peace of mind.
Creekbend Property Management is located in Charleston, SC specializing in rental properties in downtown Charleston, James Island, Isle of Palm, Johns Island, Kiawah, Mt. Pleasant, Summerville, Goose Creek, Moncks Corner, North Charleston, and West Ashley. We are licensed and insured, providing leasing services, management services, maintenance, and most importantly; giving our property investors peace of mind!