Strawberry Ridge, managed by Albany Management, does not have a renters insurance requirement in place from what we were able to determine. At least some of the residents did not have Albany, NY Renters Insurance, and are struggling as a result. One blind resident was assisted to safety by another resident, but lost everything in the fire.
According to WTEN, this apartment fire in Albany was difficult to put out because of the proximity of the buildings to each other. Siding on nearby buildings was melted. Residents from several buildings were unable to use their apartments for varying periods of time, either because they were destroyed entirely or had to be checked for structural integrity. That’s where Albany, NY renters insurance comes into play.
When there’s a fire, regardless of where the fire started or who is responsible for it, you’re immediately unable to use the apartment. You may find that the fire didn’t even cause any damage to your apartment or your property, but the building needs to be evaluated, smoke needs to be cleaned from the hallways, and a million other little things need to be taken care of before you can use your apartment again.
Where do you go in the meantime? A hotel is the standard answer, but have you seen what hotels in Albany cost? The ones you’d want to stay at are expensive, because Albany is the capital and people do come here on business. Those folks drive the prices up across the board. Instead of paying a hundred dollars or more a night out-of-pocket, those residents who had renters insurance in Albany are able to get coverage from their policy. That’s called loss of use, or additional living expense coverage.
Residents who had coverage also are able to get their personal property replaced. NY policies are often written with replacement cost coverage, so you can buy new stuff similar to what was lost at retail. Since the number of thrift stores in Albany is rather lacking, this is a significant benefit.
On average, the people who have renters insurance in the Capitol District generally pay about fifteen dollars a month, and have about fifteen thousand dollars of coverage. After a fire loss like this one, if you started saving that fifteen dollars a month from that point forward, it would take you a thousand months, or eighty-three years to finally be able to replace all of your property. It actually would be more akin to seventy years, thanks to the miracle of compound interest, but anyone over thirty-five probably isn’t expecting to live another seventy years.
Why should you pay for renters insurance? Because you’re statistically unlikely to live long enough to replace everything lost in a fire! To get covered, just call (800)892-4308 or click to get covered - whether you need Albany renters insurance quotes online or coverage anywhere else!
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