If you are a tenant without apartment rentals insurance in Illinois, you are part of the nearly 60 percent of renters in the United States who are at risk of paying high out-of-pocket costs for property damage and theft. While many renters expect that their property will be covered by their landlord’s insurance, this is not the case. Fire, flood, and other crises, as well as re-location due to these emergencies, burglary, and personal liability are all costs that could be covered by renter’s insurance. These are three things to consider when purchasing insurance for your apartment.
1. What Are Coverage Options?
Renter’s insurance can be customized in many ways to cover your needs. Some plans even provide for property of immediate family members living in nursing homes or on college campuses.
2. What Are Rate Deductions?
While renter’s insurance is usually inexpensive, topping out at a few cents a day or a few hundred dollars a year, there may be opportunities for reduced rates. These can include discounts for non-smokers and burglar alarms, or bundling your renter’s with your car insurance.
3. How Do You Prepare for a Claim?
While you may never need to make a claim on your apartment rentals insurance in Illinois, keeping a detailed list of your property comes in handy if you do. This includes keeping photos and receipts, as well as noting replacement costs.
As long as you are renting in Illinois, be insured. Property damage can come at a high cost if you’re not well protected.