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Why Renter’s Insurance is Important

Eastern Property Management requires each resident to have renter’s insurance. We started this requirement in September of 2016 and since then a lot of residents have had questions about how renter’s insurance benefits them.

 

EPM has our own insurance, it does not cover each individual and their property in the apartment.

 

EPM requires a minimum of $100,000 personal liability insurance. Personal liability insurance will cover any accidents that occur in your apartment. Some examples of accidents that can occur is a grease fire, a tub overflowing, your pet biting a neighbor, etc. In these cases, your personal liability insurance can cover you in an event that there is injury or damage.

 

EPM does not require that you get coverage of your personal belongings but that is an option that you have when getting your renter’s insurance. Getting coverage on personal belongings can be beneficial to you because replacement costs are always more expensive than the low monthly policy rates.