Rental Insurance

We are often asked what is the one piece of advice we would like to share with renting couples.

The answer to that is unequivocal, “Renters Insurance”! So many of Lakewood’s yungerleit are living without coverage on what is often thousands of dollars’ worth of personal property. Parents save for years to be able to supply their Chosson Kallah with the basics to start a home, spending an average of $15K a couple. If, Chas veshalom something should happen be it a fire or a water pipe burst, most families would struggle to recover their losses. It has happened before in Lakewood where a fire destroyed all a couples possessions, and if not for their rental policy, they would have been left in very tough financial situation. Rental policies are cheap enough to be no-brainers. For less than $200 a year you can get coverage for up to 25K. These policies cover your personal property from fire, water, mold and theft among other things.

When shopping around be careful to ask questions about jewelry and silver maximums and whether you will need appraisals.  Also, make sure to take pictures of every room in your home because it is often hard to recall everything you own when making a claim. Documentation of property ownership i.e. receipts and credit card statements are usually not necessary as most reputable companies will honor you word.