#ApartmentHacks: The Benefits of E-Renters Insurance!

You have been looking for the apartment of your dreams. You take a tour of it and fall in love! Now you're in the Leasing Center about to sign your paperwork for your brand new place! But wait! Did you forget something? Renting an important is a huge step in anyone's life so you want to make sure you have the right and proper coverage for your new home! Here we will tell you the importance of having E-Renters insurance for your apartment.

Grady Management has taken steps to ensure your property by requiring liability insurance from residents. Requiring renter's insurance protects residents. They will have the opportunity to purchase personal property coverage. With eRenterPlan, residents will have a continuous policy, options for additional overages, a variety of payment methods and payment frequency options.

Benefits: The benefits of eRenters Insurance include:

• Same day coverage-less than 3 minutes after you sign up.
• Up to 5 roommates can be included on 1 policy at no additional charge. 
• There are no rate increases once you file a claim. 
• Cover water damage to resident's unit and all other impacted units.
• Replacement cost value. 
• Theft (forces entry not required)
• Premiums are by state (or territories within state), not individual 
• No credit checks. 

Real life scenarios: Life happens every so often. It is imperative that residents purchase an eRenters insurance policy in case one of these events happen to you. Here are are list of events that can occur where renters insurance would prevail.

Resident overflows a toilet or breaks a pipe in their apartment and floods their own unit and multiple other apartments in their building.  Apartment owner and other residents sue them for damages.

Solution:  Purchase renters insurance with liability insurance in an amount that will cover them for other people’s damages and any legal fees they will incur defending such claims.

Resident’s children while engaged in a pillow fight, break a sprinkler head in the ceiling and their unit and multiple other apartments in the building are flooded. Apartment owner and other residents sue them for damages.

Solution:  Purchase renters insurance with liability insurance in an amount that will cover them for other people’s damages and any legal fees they will incur defending such claims.

Resident causes a fire that destroys their own apartment and multiple apartments in their building.  Apartment owner and other residents sue them for damages.

Solution:  Purchase renters insurance with liability insurance in an amount that will cover them for other people’s damages and any legal fees they will incur defending such claims.

Harsh storms cause drainage ditches to overflow and water and sewage enters apartment and damages personal belongings. Apartment owner will not reimburse for damages to personal property.

Solution:  Purchase renters insurance with a flood insurance rider to cover seepage of underground water and sewage to reimburse for damages to personal property. Flood insurance may not be available through ERenters insurance program. Flood insurance may have to be obtained from another insurance carrier.

Resident returns home to find their apartment has been broken into and their personal property has been stolen and/or vandalized.

Solution:  Purchase renters insurance to cover their stolen and/or vandalized possessions.  Note:  Jewelry or high priced items must be itemized and listed with insurance carrier.

Need additional help with eRenters Insursance? Call our 24 hour/7 days a week service number (888)-205-8118 or log on to https://www.erenterplan.com/Home/index

How do you make the most of your apartment community?  Let us know in the comments!

Apartment Resident #LifeHacks was created in 2018 by Grady Management, Inc.  Grady Management was founded in 1965 and continues to provide a full service residential, commercial, and consulting real estate firm in the greater Washington and Baltimore metropolitan area.  Learn more from our website or Facebook page.

The Benefits of Renters Insurance: March 2019

Renters insurance is a good idea for just about anyone who rents. That’s because your landlord’s insurance policy won’t cover your personal liability or put a roof over your head if your place becomes uninhabitable.

If you've never taken inventory of your belongings, even just mentally, and assigned a price tag to what you own, you might be surprised at the tally. Even if you feel like you don't own anything of value, even simple possessions can add up to a dollar figure that might pose a huge burden if you were forced to replace it all at one time.

This alone should give you cause to look deeper into obtaining renters insurance. Fortunately, renters insurance isn't particularly expensive, and compared to writing a check to replace all your possessions it becomes a fairly insignificant monthly cost.

Getting the Insurance You Need

When considering purchasing renters insurance, there are a few steps you should take and some things you should keep in mind along the way.

• Get Online Quotes

Shopping online is a great way to get the insurance you need. Many websites give you the ability to customize your insurance policy, giving you the power to determine for yourself how much insurance you want from the privacy of your own computer.

#ApartmentHacks: Why Buy Renters Insurance

Did you know your landlord’s property insurance won’t help you if disaster strikes. It covers the structure, but not any of your things. Renters insurance covers your belongings from all the possible bad events that are listed in the policy, such as fire, smoke, water damage, windstorms, lightning, theft and vandalism.

Even if you don’t think your stuff is worth that much, renters insurance is a good idea. The cost of replacing just a basic wardrobe and only a few pieces of furniture adds up quickly.
And renters insurance covers more than your personal belongings at home.  Here are seven other things a policy covers:

1. Hotel Costs

You don’t have to couch surf while your apartment is undergoing repair after a disaster like a fire. Renters insurance includes “additional living expenses” coverage if your place becomes uninhabitable after a disaster and you need to find somewhere else to live temporarily. The coverage would reimburse you for extra expenses, such as the cost to stay in a hotel or rent another apartment.

2. Medical Expenses

If a visitor gets injured at your apartment, renters insurance would pay the medical bills up to the policy’s limit. A typical policy includes $1,000 to $5,000 worth of medical coverage, according to the Insurance Information Institute.

3. Damage to Others' Property

Renters insurance provides liability insurance to cover injuries or property damage you and your family members cause others.  Let’s say your kid breaks a neighbor’s rare antique vase, your policy could pay to replace it.

4. Legal Costs

If someone gets injured in your apartment or you accidentally hurt somebody and are sued, the liability coverage on a renters policy would pay your legal costs and court awards, up to the policy’s limit. You choose the amount of liability insurance when you buy a renters policy. Limits usually start around $100,000.

The Benefits of Renters Insurance

Renters insurance is a good idea for just about anyone who rents. That’s because your landlord’s insurance policy won’t cover your personal liability or put a roof over your head if your place becomes uninhabitable.

If you've never taken inventory of your belongings, even just mentally, and assigned a price tag to what you own, you might be surprised at the tally. Even if you feel like you don't own anything of value, even simple possessions can add up to a dollar figure that might pose a huge burden if you were forced to replace it all at one time.

This alone should give you cause to look deeper into obtaining renters insurance. Fortunately, renters insurance isn't particularly expensive, and compared to writing a check to replace all your possessions it becomes a fairly insignificant monthly cost.

Getting the Insurance You Need

When considering purchasing renters insurance, there are a few steps you should take and some things you should keep in mind along the way.

• Get Online Quotes

Shopping online is a great way to get the insurance you need. Many websites give you the ability to customize your insurance policy, giving you the power to determine for yourself how much insurance you want from the privacy of your own computer.