Will my Gainesville apartment require renter’s insurance, and if so, how do I pick the best insurance policy?

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Some Gainesville apartments will require you to buy renter's insurance. If you're unfamiliar with renter's insurance, why you need it, or what it protects you from, don't worry, we've got you covered! Not all apartment communities require this type of insurance, but it is highly recommended and in our book a necessity! Even though your apartment community likely has their own insurance policy, you should be aware that it won't cover your personal property in the event of any damage. Renter's insurance will make sure your items are covered, giving you ultimate protection and peace of mind.

Why should I have renter's insurance?

The purpose of a renter's insurance policy is to cover your personal property should something unexpected, like a fire or water damage, arise. What if someone breaks into your apartment and steals your personal property? Having a renter's insurance policy can help replace your stolen or damaged belongings. There are also ways to prevent break-ins. Choose an apartment that is in a gated community or that includes an alarm system. Living in Florida comes with its own risks. There is always a chance a hurricane may pop up or one of Florida's famous summer thunderstorms. Having your Gainesville apartment insured protects against any damage that a hurricane or storm may cause. There are some things you just can't plan for, like a pipe bursting in your apartment or your A/C unit causing water damage. If this situation arises and your belongings are damaged, your insurance policy will have you covered! Unfortunately, if any type of flooding occurs, your renter's insurance policy will likely not cover anything that is damaged. Flood insurance requires a separate policy in almost all cases.

What is and is not covered by renter's insurance policies?

Several things are included with your average renter's insurance policy: personal property, personal liability and medical payments for others. Personal property includes things such as furniture, clothing and electronics. Unless your policy excludes it, your plan will also cover personal liability. This means you will be covered in the event of a non-auto-related incident in which you are held liable. This might come in handy if a friend falls down your stairs and hurts themselves or someone accidentally throws a ball and breaks your neighbor's window. Medical payments will be covered when there is no one at fault for the accident; we all know accidents happen. For more information on what renter's insurance is and what it covers, check out this article by Allstate.

How much does renter's insurance cost?

Renters insurance is surprisingly cheap. Some people can get a policy as cheap as $15 a month! This price depends on a few different factors: the coverages you select, how much coverage you buy and the deductible you choose. The higher your deductible the lower your monthly payment, but the cost you have to cover is increased. Keep in mind that the cost also varies from company to company too. The less you have to cover, the less coverage you have to buy. If you choose a furnished Gainesville apartment you would only have to worry about insuring smaller personal items like your electronics, jewelry and clothing. Check with your car insurance company to see if they offer renter's insurance too. This way you can bundle your monthly payment.

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