Moving to a New Apartment? Don’t Forget to Update Your Renters Insurance

Moving to a new apartment brings a lot of excitement and change. Between coordinating with movers, updating your address and settling into your new space, updating your renters insurance might slip through the cracks. But this crucial step deserves a spot at the top of your moving checklist. Just like you wouldn’t want a gap in your utilities, you shouldn’t risk a gap in your insurance coverage during the transition.

Why Should I Update My Renters Insurance?

Your renters insurance needs to reflect your current living situation. When you move, several factors could impact your coverage requirements. The neighborhood’s crime rate, the building’s security features, and proximity to potential hazards like flood zones can affect your premium and coverage needs. Plus, you might need additional coverage for new belongings you’ve acquired since your last policy update.

Moving between states? Insurance regulations vary by location, so your existing policy might not meet local requirements. Some property management companies also require specific coverage amounts, making it crucial to review and adjust your policy before signing your new lease.

What Does My Policy Cover?

Most standard renters insurance policies include three main components:

• Personal belongings coverage may cover your possessions, such as clothes, small appliances and electronics, after covered incidents like fire or theft. This coverage may extend beyond your apartment walls; your items may be covered even when traveling or if they’re stolen from your car.

• Liability coverage may provide financial support if someone gets injured in your apartment or if you accidentally damage someone else’s property.

• Additional living expenses coverage may cover temporary housing and extra costs while your place is being repaired after a covered event.

Secure a Policy Today

Insurance Tigers LLC is here to guide you through your renters insurance options. Our insurance experts can help you learn more about the coverage you need. Contact us today.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.