Renters InsuranceCover Your Assets
How much would it cost you to replace everything you own?
Whether you are a new renter or an established renter, replacing all of your belongings could cost thousands! Renters insurance is an important investment to protect you and your loved ones against liability and the risk of losing all of your belongings. Therefore, renters insurance is required for all residents at Friedman Realty Group communities.
As a service to our residents, we’ve partnered with ResidentShield.com to provide our residents with pre-approved affordable and comprehensive coverage.
Who Needs Renters Insurance?
Accidents happen. Whether you need to replace your physical belongings, seek financial assistance for a loss, or protect yourself from liability, a renters insurance policy will prepare you for the unexpected.
What Is Included In A Renters Insurance Policy?
While renters insurance policies will differ between carriers, you should look for policies that provide coverage for personal property, liability and additional living expenses.
Personal property will provide coverage for theft, loss or destruction of your personal belongings, like clothing, furniture and electronics.
Liability offers protection in the event you are sued by a guest injured in your home or for property damage caused accidentally by you or your family members.
Additional living expenses is a protection in case you are displaced from your apartment home in the event of an insurance loss, and can help you cover costs like hotels, restaurants and dry cleaning.
It’s also important to be aware of policy exclusions — that is, what your policy will not cover.
How Much Does Renters Insurance Cost?
You may be surprised to learn that a basic renters insurance policy is very affordable. Of course, premiums may vary based upon coverage elected, such as the amount of your deductible, the value of contents you insure, as well as your previous loss history and where you live.
How Do I Buy Renters Insurance?
If you already maintain other policies with other insurance carriers, such as car insurance, you may certainly choose to add a renters policy with them. All you need to do is provide your insurance agent with the required coverage for your apartment community and then provide your local management office with proof of coverage, called the “declarations” page. The insurance declaration page should contain the policy effective date, coverage amounts, policy number and expiration date.
You can also visit ResidentShield.com to enroll in a pre-approved, low cost and comprehensive program.
What Are The Minimum Policy Requirements?
At a minimum, our residents are required to insure $100,000 for personal liability and $10,000 for personal property. Friedman Realty Group, Inc. and the name of your apartment community must also be listed as “Additional Insured” on your policy.