Empowering tenants to prevent apartment fires can save lives, money, and insurance claims. According to the NFPA, there are 156,600 cooking fires a year. Together, they account for 400 deaths, 5,000 injuries, and over $853,000,000 in property damage annually. That’s an average of approximately $5,500 in property damage per fire, though many result in losses upwards of $30,000. [Read more…]
Home invasion robberies have been on the rise for some time, but detached single-family homes offer the perpetrator some sense of security in that he’s less likely to be seen or heard by neighbors.
But a new threat is on the rise: Apartment invasion robberies are becoming more common. They’re easy to stake out, people come and go all the time in apartment complexes and one more person is unlikely to be noticed, and even if the neighbors hear, they’re likely to keep out of the matter.
We’ve written before on how to choose a renters insurance company, as well as who rates renters insurance companies. Those are good starting points, but let’s face it: Insurance companies are rating you based on the risk you present. Companies like Lexis-Nexis amass huge amounts of data on every American, and then they package that data in easy-to-interpret reports or scores that the insurance company uses to make a decision on how much to charge you and what kind of risk you are.
We live in an era where data is often free. To use a software analogy, data can often be both free-as-in-beer (data costs nothing in many cases) and free-as-in-free-speech (use of the data is not limited after you acquire it.) There is no reason that you shouldn’t be rating insurance companies similar to the way they rate you! DIY insurance company ratings are possible and a smart financial move for you, even if your name isn’t A.M. Best.
After the jump, learn how companies rate you, and how you can turn the tables and create do it yourself insurance company ratings to help you get the best deal on insurance that also offers the best protection.
The Avalon at Edgewater sprung from the ashes of the apartments at Avalon River Mews which burned to the ground back in 2000. Now, in a shocking twist, Avalon at Edgewater has itself gone up in flames. It’s unknown how many of the residents had Avalon renters insurance, but we would expect that those renting an apartment built on the site of a previous fire would strongly consider a New Jersey renters insurance policy. [Read more…]