Apartment Insurance

Apartment insurance, more commonly known as renters insurance, is essential for renters who may need financial security. A renters insurance policy may protect them financially if something happens to their belongings or someone is injured inside their apartment.

At Primar Insurance Brokers, our insurance professionals use their product knowledge to provide policy options that meet the needs of apartment renters throughout the Chicagoland area. We can also explore insurance coverage that may give you needed protection.
Apartment building

What Is Renters Insurance?

Renters insurance is a type of home insurance policy, known formally as an HO-4, that provides coverage for a renter’s belongings and liability. It does not provide coverage for the unit’s structure itself, as the landlord’s insurance policy generally provides coverage that protects the building’s structure.

Your apartment insurance policy includes liability and property damage coverage. Your policy’s liability portion may help if a third-party bodily injury or property damage claim is made from an accident in your unit; it may also help pay medical bills. It may also provide coverage for property damage or bodily injury you or another listed insured on your policy may cause to a third party. The property damage part of your policy insures your personal belongings if they’re damaged or stolen in an unfortunate covered incident. Some apartment insurance policies may pay temporary living costs if you must move and live elsewhere temporarily because of a covered occurrence. Coverage may include your hotel, temporary rentals, meals and other living expenses up to your policy limit.

Is Renters Insurance Needed for an Apartment?

Renters insurance isn’t required unless your landlord or apartment building requires coverage. However, even if your landlord doesn’t require you to carry a renters insurance policy, you may want to give yourself this essential protection. Without insurance, you are responsible for the expenditures if something damaging happens. But with coverage, in a covered incident, you may have the financial support of your apartment insurance to help with your recovery.

Protecting Chicago’s Renters

Apartment or renters insurance can give Illinois renters needed financial protection. Primar Insurance Brokers can determine a suitable amount of renters insurance coverage for you. If an insured event damages your belongings—or someone has an injury in your place—your renters insurance may help to safeguard you financially.

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.

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