Apartment Break-ins on the Rise? How Renters Insurance May Keep You Covered

Living in an apartment comes with the risk of theft and break-ins. When a break-in occurs, the loss of personal belongings and the resulting expenses can be difficult to handle on your own. Renters insurance may help manage those costs.

Why Break-Ins Happen

Apartment buildings and units may be susceptible to break-ins due to various reasons, including the following:

• Shared doors, mail areas and parking lots
• Tenant turnover leading to a lack of familiarity with neighbors
• Poor security features or lack of landlord upkeep (e.g., malfunctioning locks)

Even properties with access controls and cameras can still experience theft.

How Renters Insurance May Help

Fortunately, while tenants may need to account for inherent theft- and burglary-related risks, the right renters insurance can provide financial protection through various means:

Personal Property Coverage 

If covered items such as laptops, jewelry or electronics are stolen or damaged by intruders, renters insurance may reimburse you. Depending on the policy, reimbursement can be based on the cost to replace the items rather than their depreciated value.

Coverage Beyond the Apartment 

Many policies may apply to belongings outside the unit. If covered property is stolen from a vehicle or while you are traveling, your insurance may still apply, subject to limits and conditions.

Additional Living Expenses Coverage 

Also known as loss-of-use coverage, some policies may also include financial assistance for additional living expenses. For example, if you need to temporarily rent elsewhere or stay in a hotel while losses and damages are assessed or dealt with, your insurance may reimburse you for such costs.

Why Renters May Consider Coverage

Although renters insurance is not typically required by law, many landlords may require it as a condition of your lease. Even in the absence of such requirements, for many renters, it can be a practical way to reduce out-of-pocket expenses after a covered break-in or similar loss.

Understanding Policy Terms

Renters policies may include coverage limits, deductibles and exclusions that outline how coverage may apply. Reviewing these details may help renters confirm that their policy aligns with their belongings and expectations after a covered loss.

Get Insured Today

Contact The Kimberlee Agency to discuss your options and get a free custom quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.