From the Director's Desk

Although we do not require renters insurance we highly recommend you have renters insurance. A renters insurance policy is a group of coverages designed to help protect you and your belongings. A typical renters insurance policy includes liability coverage, protection for your belongings and coverage for additional living expenses, should the home/apartment you're renting become temporarily uninhabitable. We have had two fires in the last couple months. One tenant did not have renters insurance, all of their belongings were a total loss. The tenant had to pay our insurance deductible of $5,000 to have the unit totally repaired. That’s all out of their pocket because they did not have renters insurance. Our other tenant had renters insurance. Their insurance paid our deductible, repairs to the unit, replaced their belongings plus paid for them to stay in a hotel room while the repairs are being done to their unit. Renters insurance is worth buying because it will protect you against unexpected catastrophes for an affordable price. With a renters insurance policy, you are paying a reasonable cost —around $16 a month on average—to protect yourself against large and unpredictable costs in the future.

May Newsletter