The fire at the Avalon Apartment Complex in Edgwater, NJ was a disaster on many levels. Luckily there was no loss of life. However after the shock wears off the hundreds of people will catch their breath and soon realize that they have lost their worldly possessions. These may be expensive items that can be replaced and many that have sentimental or of such value that they cannot be replaced.
For those who had renter’s insurance can breathe a little easier as they will receive some compensation for their material possessions. For those who did not carry this insurance…they are out of luck and did literally escape with the shirts on their backs…and that’s about all they have.
Renter’s insurance is a simple, inexpensive way to insure your belongings. We always think it’s the next guy that something will happen to. You may be the next guy. Typically Renter’s insurance covers your personal property. That would include items such as clothes, furniture, televisions, computers, etc. Expensive items like jewelry or fine arts can also be covered but would need to be appraised and listed on the policy. The right policy will also pay for your temporary housing while you look for a new place to live. So while a renter’s policy is simple and inexpensive, it still needs to be done the right way! Having a personal connection with people who lived there and lost everything except their lives, I urge you to take a few minutes to review your policy – whether that be renter’s insurance or homeowners insurance.
Let me know if you want to discuss Renter’s insurance or Homeowner’s insurance if you own your home.
