If you are renting a home in Birmingham Al, you may be one of the more than 40 million renters nationwide who have been living in their rented apartments without renters insurance, thinking that as they are not homeowners they do not need to be covered by insurance. However, this is a dangerous practice as renters’ insurance can be as low as the cost of dominos meal for the family or a trip to MacDonald’s. There are also many more reasons to get your renters insurance as soon as possible.
Many people living in rentals in Birmingham Al have the mistaken view that their lease agreement covers their property and valuables in case of a disaster, but the reality is that most standard leases are explicit in mentioning that the landlord’s insurance will cover only the landlord’s property i.e. the physical apartment building. So if a renter is not buying insurance just because they think that the landlord is covering them, they may be in for a rude awakening. Therefore, it is important to get your insurance.
Many renters living in one bedroom apartments in Birmingham al have the false notion that as they’re living in an apartment, they are not prone to suffer from any injury compensation lawsuits. This too is a highly flawed notion because, even as a renter, you will be entertaining guests, one of whom may fall and break his hip, or your pet may bite someone’s child. All these instances will lead to injury compensation, which you will have to pay from your pocket if you are not covered by renters insurance.
One of the simplest aspects to consider when mulling over renters insurance is the fact that the average renter in the United States has property valued at more than 13 thousand dollars. If more than one person is residing in your apartment, this can easily go up to fifty thousand or more. This can be back breaking to replace, but if you buy renters insurance, the replacement costs are fixed as per your insurance, and this will give you peace of mind.
A simple myth which we stated earlier is that renters insurance for Birmingham AL apartments is expensive, but if you consider the lower end of the market, you can get renters insurance for as low as $1 per day rounding off to $400 per annum, which is highly affordable. However, two points must be kept in mind when buying insurance. Firstly, make sure that you are buying insurance only for the risks that your property may face. For example, there is no need to buy insurance against tornadoes if your apartment’s general vicinity has never had one. Secondly, it is usually better to opt for higher premiums instead of higher deductibles as this will give you a better chance of replacing your property easily in case of any problem.