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| A Chicago apartment insurance policy usually includes liability coverage for unintentional damage or injury, compensation for personal property that is stolen or damaged and payment for additional living expenses if you have to move out or temporarily relocate because of damage done to your residence. |
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| With Chicago apartment insurance, you can replace what's damaged or stolen. Renters insurance covers your possessions against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm, and water damage from plumbing. Renters insurance also covers your responsibility to other people injured at your home or elsewhere by you, a family member or your pet, and pays legal defense costs if you are taken to court. |
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| Although landlords have to have Chicago apartment insurance they do not cover you except in certain instances. For the most part they cover the landlords loss, such as if the building burns down, but doesn’t include the contents within. That is up to you. It is important for you to get a renters insurance policy to cover your contents and any liability you may incur |
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| Why don't more renters carry Chicago apartment insurance against possible financial losses? Apartment owners and managers and insurance industry executives said most renters believe -- erroneously so -- that they don't need renter's insurance because the property owner is required to take care of any losses they may suffer. |
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| News reports of apartment fires often include tragic stories of renters who lost everything because they were uninsured. If you rent an apartment, duplex, house, or townhouse, your landlord´s Chicago apartment insurance policy covers losses to the building, but it does not cover your personal property. To protect your belongings, you need a separate renters insurance policy. Renters insurance covers your personal property and household items in the event of a fire, theft, or other loss. It also offers you financial protection if a visitor is injured in your home. |
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| Go into your next roommate situation prepared for the unforeseen and you’ll be starting off on the right foot with a Chicago apartment insurance policy. Nobody wants to file a claim or have one filed against them simply because there was no renters insurance coverage. Even though insurance is an “intangible,” you’ll be buying yourself peace-of-mind and protecting not just your valuables, but perhaps even friendships as well. |
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| Chicago apartment insurance policies have additional benefits. For example, a waterbed liability provision is standard in most renters and condo owners policies. If your waterbed bursts and the water ends up in the apartment below yours, your renters insurance would cover the damage. |
