It’s 8:46 am, your running late to work.  You rush out the door forgetting to turn-off the coffee pot.  At the end of the day, you return to your apartment building to smoke and a firetruck outside.  Your neighbors inform you that there was a fire in one of the apartments and no one will be able to stay in the building until the smoke clears.  You have no where to go except to a hotel for a few days.  To further complicate the matter, you are called by the apartment Manager and informed that the coffee pot in your apartment caused the fire and you are liable. 

This event could cost you thousands of dollars if you do not carry Renters Insurance.  From the cost of the Hotel, the cost of an attorney and the cost to fix the damages to the building caused by the fire.

the common misconception among renters is that they do not have enough personal items to warrant carrying the insurance.  However, the primary purpose of Renters Insurance is your liability obligation in the event of damage to the property or injury to a guest.

The typical renter’s policy carry the following:

Liability $ 100,000 – $ 500,000
Personal Property – $ 5,000 +
Loss of Use – $ 1,000 + (typically 20% of personal property limit)
Guest Medical – $ 1,000 – $ 2,000

So, what do each of these items mean to you?

Liability – Coverage for accidents and injuries that occur in your home, as well as outside your home that are caused by you, your pet or your property.  This does not include auto accidents.

Personal Property – Coverage for furniture, computer and electronic equipment, clothing, CD and DVD collections, your  bike, cookware, eating utensils, etc. (these items really add up)

Loss of Use – Covers living expenses if you are forced to live elsewhere due to a covered loss

Guest Medical – Covers medical expenses incurred by an injured guest

So ask yourself, can you afford NOT to have renters insurance?  For penny’s a day, you can have peace of mind.  Not to mention, some apartment buildings are now requiring tenants to purchase Renters Insurance. The average cost of Renter’s Insurance is $ 10 – $ 20 a month depending on your zip code. Don’t wait another day! Get your Renter’s Insurance and have peace of mind!

If you live in CA, email me for a free quote at All other states, visit your local Farmer’s agent for a quote. – #12 – Personal liability insurance is most often found on the homeowner insurance, renter insurance or rental property insurance policy. Personal liability insurance protects you and your family in the event there is a lawsuit resulting from 3rd party bodily injury or property damage. An example of personal liability is a neighborhood child who gets hurt on the swing set in your backyard.

It is important to always consult a professional insurance agent about your specific insurance needs. Our team of insurance professionals at The Murray Group would be happy to answer any questions you have regarding personal liability insurance. Click the link above to visit our website and learn more.

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