True tales from apartment managers explain the need for insurance


True tales from apartment managers include lost keys, deep-fried turkeys and vandalized apartments. Image: Flickr / MoneyBlogNewz / CC-BY

If you do not own the home, loft, room, space or RV that you live in, you probably need renter’s insurance. True tales from apartment managers show exactly how many ways things can go wrong. Living in close quarters with others means another person’s mistake can affect you.

True tales from apartment managers

Apartment managers are the first line of defense when things go wrong, and they have seen just about everything. One apartment manager in Chicago remembers when a resident tried to deep-fry a turkey inside the apartment — and set the whole complex on fire. One dormitory manager in Reno, Nevada, had a tough day when a resident tried to microwave a dry towel and set the room on fire. Floods, fires, snowstorms, vandalism, burglary and electrical surges all happen to rental units, too.

What happens after an apartment emergency

Say your apartment goes up in flames, the person in the next dorm spray-paints everything in your room or your Super Bowl party overtaxed the wiring and blew out the breakers. If you do not have renter’s insurance, you could find yourself in need of an emergency loan. In most states, you legally have almost no recourse. While a bad credit loan can get you money right away to pay for lost clothing, dishes, electronics and housewares, going this route can put a big strain on your budget.

How renter’s insurance helps

Renter’s insurance may sound like an expensive add-on. At a cost of $100 to $300 per year, however, it is relatively inexpensive. After hearing true tales from apartment managers, renter’s insurance sounds like an even better idea. It can help save your budget, and it means that you can use your no fax payday loan for something else and not to pay expenses when you have an apartment emergency.