Renters insurance is essential, so cover your space

Accidents happen: Your dog chews up the carpet floor, a friend accidentally spills soda on your computer, or a young relative accidentally knocks over your big screen TV.

These are all unforeseen events that can happen in your apartment home. Of course, no one plans for accidents to happen. In case they do, it’s important that you protect yourself and your belongings with renters insurance.

While the owner of your apartment community most likely has insurance policies covering the buildings and common areas, it’s your responsibility to insure your personal belongings and protect yourself from liability. What does renters insurance cover? Kitchen fires are more common than you think. The damage can be quite costly if a small fire breaks out in the kitchen. Smoke damage may ruin your curtains or your clothes. A flood in your bathtub or sink can destroy electronic devices, necessitating replacement. Having renters insurance could help cover some of these costs.

Renters insurance also protects you from burglary and vandalism. If someone breaks into your apartment home and steals or destroys your belongings, renters insurance will cover it. Know that the property owner’s insurance does not cover items destroyed or stolen in a home invasion.

If a guest staying in your apartment home falls and gets hurt, they could take legal action. If they try to sue you for damages or medical bills resulting from an accident in your home, your renters insurance will help protect you from paying everything out of pocket.

An accident may force you to move out while your apartment home is being repaired. If that occurs, having renters insurance will help cover the costs of temporary housing.

The unexpected happens, so we must do everything we can to protect ourselves and our valuables. Getting renters insurance is one way to ensure you are covered if anything happens in your home.

Courtney Gilstrap LeVinus is president and CEO of the Arizona Multihousing Association, the statewide trade association for the apartment industry.