If your apartment building is destroyed in a fire, will your renters insurance replace your contents, and reimburse you for the costs of living expenses? Since the landlord is not necessarily responsible for your belongings or living expenses, it is imperative that you have coverage that will replace your contents and provide you with the funds needed to live in a hotel and eat in restaurants until you can return to your home. The first part of our renters insurance covers your contents. This may include your furniture, clothing, electronics, and even collections like jewelry and fine arts. Our policies include replacement cost coverage. Replacement cost coverage does just what it says. It replaces your contents at today’s costs. As an example, you bought a couch 4 years ago and paid $1,200 for it. Today, the actual cash value of a 4 year old couch is next to nothing. If it destroyed and you have an actual cash value policy, don’t expect to get much. However, if you have replacement cost coverage in your renters insurance, you will be compensated the cost of a brand new couch, of equal style and quality, even if it’s more than you originally paid!
The power of replacement cost coverage is huge. Without it, you may only get half or less than what it takes to replace your belongings. If your apartment is destroyed in a fire, where will you live? Your landlord may abate your rent, which means return the unused portion of your rent, but they are generally not responsible for your cost of living. Suppose your rent is $1,500 per month. That is roughly $50 per day. Can you rent a hotel room and pay for food expenses with $50 a day? Hardly!
Our apartment renters insurance can compensate your for hotel expenses, restaurant expenses, laundry, even pet boarding and other special needs you may have. Since the cost of our apartment renters insurance is so affordable (sometimes as low as $12 per month), it pays to get in touch with us to secure your coverage today. We also provide free Apartment Insurance Quotes in Ventura County as well. Contact ApartmentInsurance.com to discuss how Renter’s Insurance in Ventura County can protect yourself in the event of an emergency.