If you are someone who is moving into a new apartment, you might be excited that you have a place of your own. However, there is something that you’re going to need.
In this write up, we’ll be talking about apartment insurance – and, more specifically, how important it is.
Yes, it will benefit you in the long run in so many ways. However, there are some ‘dos’ and ‘don’ts’ that you need to be aware of even before choosing a policy, because you want to make smart decisions that will save you money (even if money is tight at the moment).
Moving into a new apartment might be the best thing that’s happened to you so far. But you want to cover your bases as you go. Here are the do’s and don’ts of apartment insurance, or renters insurance, that you need to know about:
Even before you sign the lease itself, you want to go over the agreement with your landlord. Make sure everything is clear, understandable, and easy to follow. You want to know what to expect on your end and what the landlord is responsible for.
If there is a term in the agreement you may not like, negotiate with the landlord to ensure that there is a compromise that must be agreed to in writing.
Whether you are doing an inspection before moving in or hear something weird in the middle of the night, you may want to investigate it further. Because the smallest noise could be a big indicator of impending disaster.
If you discover something that may be a cause for concern, you want to bring it up to your landlord as soon as possible. They or a handyman can investigate it and make repairs if needed. Yes, some repairs and maintenance may be needed because of those strange noises.
DO: Get to know your neighbours
You’re not the only person in your apartment complex. So be sure to get to know as many people as possible. Your neighbours that become your friends will be that makeshift community that supports you.
Knowing your neighbours and building that camaraderie will make your apartment less of a target for vandals. And if someone has the guts to do it, you will have people standing up on your behalf or dealing with the issue by way of the landlord or the police. And they will make sure they will let you know about it.
Even if you are friends with neighbours, that doesn’t mean you can leave your doors unlocked whether you are home or not. Because people can break in at any given time. Be sure to check the locks and make sure they are working properly.
If the locks are not working as they should, let the landlord know. Your safety and security should be your number one priority. The same goes for smoke detectors and the like.
Already, your apartment should have at least two smoke detectors with fresh batteries. If not, you may need to purchase them yourself. Fires can happen at any time even by no fault of your own.
If something gets damaged, you may feel like not letting your landlord know. Because it may draw their ire because you might have been irresponsible. However, not disclosing information about damage is just as bad (if not worse).
If there is damage done to the apartment, you will need to let the landlord know as soon as possible so repairs are made. Will you be responsible for the expenses? That will depend on the lease agreement.
DON’T: Go uninsured
Things in your apartment can happen. And that can lead to hundreds or even thousands of pounds in expenses due to damage or theft. The lesson here is simple: don’t go without apartment insurance.
With the right kind of coverage, you can be covered for any damages. If your items are stolen due to burglary or robbery, you will have an insurance policy that will cover the replacement costs.
Without adequate coverage, your wallet will feel the pain. The trouble is, dealing with an unexpected disaster or setback is frustrating enough as it is – and that’s before you take into account the stress and strain of dealing with the financial fallout on your own. For this reason alone, insurance should be considered one of life’s necessities – if you take this approach, you may well come to thank yourself in the long run.