As a result, a total of twelve people were forced to find alternate accommodations because their apartments are unusable. Eight of those individuals are children, which makes the work of this arsonist even more despicable. How would Richmond Renters Insurance have helped? Read on to find out!
While it wouldn’t have presented the arson, Virginia Renters Insurance would have been quite useful for the victims of this terrible act. Let’s take a look at the ways that renters insurance can help the people who are left suffering after a Richmond apartment fire.
First and foremost is the “forgotten coverage” that very few people realize they even have. It’s part of a renters insurance policy by default, so chances are pretty strong that you do have the coverage. It’s called loss of use or additional living expenses, and it’s crucial. Often in an apartment fire, you’re likely to leave many things behind. One of those things is often you wallet. That means you’re out of luck for a hotel that night, at least until you can get a new debit card at the bank in the morning. That’s only if you’re fortunate enough to bank with someone who offers same day debit cards.
Otherwise you’re in even more trouble. Loss of use coverage pays for your hotel that night and while you’re displaced, and often your insurance company will have an arrangement with a hotel chain to allow the chain to accept a voucher from the insurance company. Often, even if you’re without a method of payment after an apartment fire, you’ll still have access to a hotel through the insurance. Remember that the Red Cross often only pays for three days, even after a tragic fire like this one. They have limited resources, so you need to remember you’ll likely need the coverage. Most fires require far more than three days to get back on your feet and in your home afterwards.
In addition, you also get coverage after a fire from your Richmond Renters Insurance to protect your personal property. Sometimes you might be able to save property from a fire if you’re responsible for the fire because you’re more aware that it’s started. In a case of arson, especially when there are children involved who need to get out in a hurry, you won’t want to be worried about your personal property. That’s why you have a policy with replacement cost coverage. Remember that arson can happen to anyone and you won’t know it’s happened until it’s too late. Personal property coverage is important to rebuilding your life, the cost to replace everything in your home is far more than you expect.
In the average apartment fire, renters insurance liability coverage comes into play when the person who’s responsible for the fire is determined. In this instance, there’s no liability coverage because this arson is a terrible, despicable, intentional act of a depraved individual. But if you were responsible for the fire, your liability coverage would pay the damage instead of you having to take care of it out-of-pocket. The building owner, their insurance company, and residents of the building will all come after you in this situation, which is why you have liability coverage on your renters insurance.
Renters insurance is easy to get and more affordable than you think. Just call (800)892-4308 or click to get covered - whether you need Richmond, VA renters insurance quotes online or coverage anywhere else!
Effective Coverage offers the nation's only completely mobile platform to quote and purchase renters insurance right from your phone or tablet in just one minute. Get an online renters insurance quote today and protect your family. If you’d like more information on renters insurance in Virginia, please take just a few brief moments to watch our Virginia renters insurance guide video below, or to read our Virginia Renters Insurance Guide. We work to ensure that education about renters insurance is available, because without fail the people who need it the most are the least likely to have the coverage. Protect yourself today for just pennies a day with Effective Coverage.