Renters: Better to be Safe Than Sorry Protecting Property Should be a Priority for Renters too
September 15 2008 - 5:49PM
PR Newswire (US)
40 percent of survey respondents said they have renters insurance,
meaning that roughly half of the approximately 87 million Americans
living in rental housing do not have insurance to cover their
belongings in case of loss BUFFALO GROVE, Ill., Sept. 15
/PRNewswire-FirstCall/ -- If your apartment burns down or is
burglarized, would you have money to replace your personal
belongings? Most renters don't realize their landlord's insurance
covers only the building structure and not tenants' possessions.
Plus, how many college students living in off-campus apartments
even think about renters insurance? Well, for about the price of a
large pizza per month, you can protect all of your valuables.
Renters insurance is available to protect personal belongings from
fire, theft, vandalism, and damage from faulty plumbing. "Most
people need to be educated about the advantages of renters
insurance," said Doug Borg, regional distribution leader for
Allstate. "Renters are surprised to learn just how much they risk
losing without proper insurance for both their personal belongings
and personal liability." Renters insurance also covers more than
personal belongings. Options are available to cover the renter if a
guest is injured while in the apartment or if the policyholder or
family member causes damage to another property. There are also
options to cover reasonable increases in certain living expenses
necessary to maintain your normal standard of living, for up to the
amount of time specified in the policy, if a covered loss makes
your residence uninhabitable. Allstate Insurance Company wants you
to become familiar with the facts about protecting yourself and
your property in a rental situation: -- According to recent FBI
statistics, two of every three burglaries occur in homes, condos,
or apartments and have an average loss of $1,004 per residence. --
Renters insurance may cover you against theft both at home and away
from home. This coverage includes protection against robbery,
pickpocket theft, and even credit card loss, forged checks, and
counterfeit money. -- Discounts are available to renters who are
age 55 or older, and to those whose dwellings have a protective
device, such as fire extinguishers, smoke alarms, burglar alarms,
and dead bolt locks. This includes a discount to renters who live
in buildings that provide 24-hour security personnel. -- You can
increase your coverage for certain losses based on your individual
needs, such as for jewelry, silverware, and personal computers.
Coverage and discounts are subject to availability and
qualifications. Other terms, conditions and exclusions may apply.
The Allstate Corporation (NYSE:ALL) is the nation's largest
publicly held personal lines insurer. Widely known through the
"You're In Good Hands With Allstate(R)" slogan, Allstate is
reinventing protection and retirement to help individuals in
approximately 17 million households protect what they have today
and better prepare for tomorrow. Customers can access Allstate
products and services such as auto insurance and homeowners
insurance through approximately 14,700 exclusive Allstate agencies
and financial representatives in the U.S. and Canada, or in select
states at allstate.com and 1-800 Allstate(R). Encompass(R) and
Deerbrook(R) Insurance brand property and casualty products are
sold exclusively through independent agents. The Allstate Financial
Group provides life insurance, supplemental accident and health
insurance, annuity, banking and retirement products designed for
individual, institutional and worksite customers that are
distributed through Allstate agencies, independent agencies,
financial institutions and broker-dealers. Customers can also
access information about Allstate Financial Group products and
services at myallstatefinancial.com. DATASOURCE: The Allstate
Corporation CONTACT: Kristal Hoffman of The Allstate Corporation,
+1-847-667-3369 Web site: http://www.allstate.com/ Company News
On-Call: http://www.prnewswire.com/comp/109885.html
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