Is It Common For Apartments To Require Reston, VA Renters Insurance?
The vast majority of apartments in Reston that qualify as luxury, high-rise, or even “acceptable” are operated by property management firms. Generally these are large property management firms, companies with tens of thousands of units or more under management. They often manage these communities on behalf of the owners. Owners are generally investment groups of some variety, and those groups want to see their investment protected. They expect the property managers to do just that.
The vast majority of apartments require Reston renters insurance because it’s the single best way to protect the property management company, the owners, and the residents. Sure, they have insurance. But the deductible or risk retention on their commercial policy might be tens of thousands of dollars. Small losses would come out of the property management company’s pocket, and large losses would increase their future premiums.
On top of that, property managers realize that residents hate moving. If there’s a loss, and you have to move to another unit in the same community, that’s not so bad for the resident. But if you have nothing after a fire, no hotel to go to, and no idea what you’re going to do, it’s more likely that you’ll end up staying with family or friends. Resident retention benefits everyone, including the resident, and when you have Reston, VA Renters Insurance you’re able to stay in a hotel (loss of use coverage), replace your property, and even cover the cost of the loss if it was your fault with the liability coverage.
It’s quite common, almost universal, for managed apartments to require renters insurance in Reston, VA. It’s really just basic risk management – for both the community and for you. The question really is why you wouldn’t have the coverage. You’re responsible for your own risk management, and there’s a product out there that will prevent you from having to replace everything you own in the event of a fire – whether you caused it or not. It will replace things that are stolen from you, even things that are stolen from your car.
Reston renters insurance will also make sure that if someone else has a loss because of your negligence, you won’t be paying for it for the rest of your life. Liability coverage is there whether something happens in your apartment or whether you spill your hot coffee on someone while walking down the street. It’s the most affordable form of personal risk management out there, averaging around fifteen dollars a month.
You can get protected today, too. It takes three minutes on the phone, or sixty seconds online. Just call (800)892-4308 or click to get covered - whether you need Reston renters insurance quotes online or coverage anywhere else!
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Photo Credit: Elvert Barnes Wiehle Reston East Station CC BY SA 2.0