Florida Renter’s Insurance – What You Need To Know About Renter’s Insurance

There are many viable reasons to rent an apartment or house versus owning one.  One good reason is that you don’t have to do any upkeep to the property as that falls to the property manager or owner of the house.  Another good reason is that you don’t pay any property taxes on the residence as that too falls under the homeowner or property management.  The biggest reason to rent versus own is that you don’t have a house payment to make and don’t have to pay any home insurance.  This last reason, of course, could be argued as you do make monthly rent payments and although you can’t purchase home insurance, you can purchase renter’s insurance.  If you pay rent for your home or apartment, you should contact Jet Stream Insurance Group LLC in Miami Lakes, FL to consider your insurance options.  We will cover the reasons why renter’s insurance is vitally important to any renter of a home or apartment. 

Renter’s Insurance

The story has been told numerous times over the years and in different guises, but the story remains the same, tragedy strikes a rental property and displaces residents.  A section of a large apartment complex catches fire and many units are heavily damaged through smoke and water from putting out the fires.  The complex put up the residents in a nearby hotel for a couple of weeks on their dime as a gesture of goodwill.  After these two weeks are up, some residents struggle to find housing and replacements for what they’ve lost, other residents have no issues lining up short-term housing solutions, so…what happened?

Insurance Makes The Difference

The residents who had issues, later on, did not have renter’s insurance while the others did.  More people than you know have this false sense of security believing that their items would be insured in case of a fire or theft through the complex’s commercial insurance, this is simply not the case.  The building itself is protected (walls, rooms, structure, etc.) but not the personal effects of each resident.  The only time when commercial insurance would pay for personal items is if the complex itself was found criminally negligent in how the fire started.  This is why you should always carry renter’s insurance for any rental situation that you find yourself in.  Renter’s insurance is also much cheaper for personal items than a regular home insurance policy.  Short-term rentals and housing after a personal loss are also covered under some renter’s insurance policies as an added benefit.

Further Information

To learn more about renter’s insurance, please contact Jet Stream Insurance Group LLC in Miami Lakes, FL today!