Renting your own apartment in Sandy, UT is a big step toward establishing your independence. It also means that you have to presume all the responsibilities of a renter. You will need to pay the rent every month and budget for other expenses such as the electric bill and the telephone bill. You do not want to live in an empty apartment so you will need to fill it with furniture and other personal possessions.
Buying apartment insurance is something you should seriously consider when you are a renter. When you rent, your personal property is not covered by your landlord’s insurance policy. If someone should break into your apartment and steal your laptop computer, you can file a claim for your loss with your apartment insurance provider. If you have no such insurance, you most probably will have to take the loss and pay for a new laptop computer out of your own pocket.
Renter’s insurance is very affordable. Besides protecting your personal property against loss or damage from covered perils, it also provides liability protection. If someone gets injured while inside your apartment, they might want you to pay their medical bills. Your insurance can defend you in such a situation or pay out any valid claims up to the amount of your coverage.
Apartment insurance is so affordable because it does not include coverage for the dwelling. Unlike home insurance, where the largest part of the premium is normally allocated to insuring the actual house, a renter’s policy only provides content and liability coverage.
Before you purchase a policy, make sure you know exactly what is and is not covered. You can add endorsements to a standard policy to get more coverage. Endorsements can cover such things as high-value property and temporary housing.