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To Insure, or Not to Insure: Should You Invest in Renters Insurance?

Renters insurance is a specific kind of insurance coverage that is designed to protect your belongings when you don’t own your own home. Unlike homeowners insurance, which covers everything including the structure of a dwelling, renters insurance focuses primarily on the contents contained within a particular rented unit. Simply put, renters insurance policies provide compensation for things like loss of or damages to personal property and expenses incurred by forced re-homing.

Now that you know what renters insurance is, however, the big question becomes, is it something worth investing in? Here are a few important things to keep in mind.

 

Other insurance may not, and probably WILL not, cover your losses.

Many apartment renters make the mistake of believing that, in the event of damage or theft, their belongings will be covered under whatever insurance coverage the property owner has in place. Unfortunately, they learn a difficult and costly lesson when they discover that this is very rarely the case.

Let’s say a pipe bursts in the apartment above yours, causing water to leak in through your ceiling. That water damages your furniture and destroys some of your other items. Or, let’s say someone breaks in while you’re out one evening and steals some of your jewelry or other valuable items. Or, what about if someone visiting your apartment gets injured.

In any of these scenarios, you would likely be on the hook to cover all of your own losses, damages and expenses. And if you don’t have insurance, that could mean a substantial amount of money out of your own pocket.

 

Some apartments require tenants to maintain renters insurance.

Another important thing to consider is the fact that many apartments actually mandate that all tenants carry renters insurance coverage. In doing so, this provides an added level of protection against liability for the property owner.

If renters insurance is required for a particular apartment, it’s usually written right into the lease agreement, but you should double check with your landlord or apartment locator service to make sure you’re in compliance, just in case.

 

Not all renters insurance policies are created equal.

The good news is, when it comes to renters insurance, your options are many. Most major insurance providers offer this type of coverage, and many offer multiple different plans and coverages to choose from.

When comparing policies and determining which coverage is right for you, consider your personal needs and circumstances. How much value do you place on your personal property? How old is the building you are renting? These are questions you should ask yourself first, so that you’ll have a better idea of what type of coverage you’ll need. Discussing your situation with an insurance agent can help as well.

 

Renters insurance is surprisingly affordable.

If you’re on a tight budget, it can be tempting to forego renters insurance, but doing so may cost you big time in the long run. Thankfully, renters insurance is actually quite affordable, and purchasing a policy is super easy. Plus, when you compare the negligible upfront investment to the potential losses you could incur if you were not covered, it becomes abundantly clear just how worth it this type of policy is in the long-term.

 

Still have questions or need more guidance on apartment living? Get in touch! Our team of experts can provide advice and help point you in the right direction.

January 9, 2021 / by / in
5 Best Places in Uptown to Grab a Drink After Work

You work your ass off all day. You deserve to kick back and enjoy a nice, refreshing cocktail once quitting time rolls around. Thankfully, there are tons of great bars and restaurants in and around the Uptown, Dallas area – many of them conveniently located within walking distance. Whether you’re planning on commiserating with your favorite co-workers, you’re meeting up with friends after a long, hard day, or you’re stopping in for a quick drink on your own, here are a few of our favorite local watering holes.

Parliament

https://www.facebook.com/ParliamentBar/

If you’re looking for a great place to hang with great happy hour drink specials, you’ll want to swing by Parliament. The somewhat inconspicuous locale provides for a laid back, comfortable atmosphere and the impressive list of drink options prepared by expert bartenders makes it well-worth the visit. Happy hour is Monday through Saturday 5-8pm or any day that it’s raining.

Bowen House

https://www.facebook.com/bowenhousedallas/

Have a more distinguished drink palette? Sit back and let the mixologists at Bowen House whip up some craft cocktails for you and your crew. The only thing cooler than the drinks here is the chill vibe. Hungry? They’ve got you covered. We recommend the steak tar tar for an appetizer and the vegetarian-friendly zucchini pasta. Happy hour is from 4-7 with a variety of drink and snack options.

Atwater Alley

https://www.facebook.com/BarInTheAlley/

When it comes to hidden gems, the Atwater Alley is where it’s at. Don’t try to find a fancy sign. Just head down the alley behind Henry’s Majestic and look for the door with double A’s on it (one right side up, one upside down). Despite the modern drink options and creative bar staff, you’ll feel like you just stumbled back in time into a 1920’s speakeasy. Trust us – this one’s an experience you have to try.

Kennedy Room

https://www.facebook.com/kennedyroomdallas/

This place bills itself as a “neighborhood bar,” but in our opinion, the atmosphere is more like visiting friends than sitting at a bar – especially with their plush leather couches and antique upholstered high back chairs. It’s a truly unique place to throw a few back, shoot some pool and enjoy some delicious and surprisingly affordable drink and food specials.

Upside West Village

https://www.facebook.com/upsidewestvillage/

We’d be remiss if we failed to include Upside West Village in our list of “best cocktail bars in Uptown.” While their menu and drink specials may be on the pricy side, it’s the magnificent views from their rooftop location that make this hot spot one worth visiting. Heaters and a fire pit will keep you warm on chilly nights and the covered canopy allows for great views of the Dallas skyline regardless of weather.

If you live or work in the Uptown area of Dallas, you owe it to yourself to give these five awesome places a try. Perfect for that after-work cocktail, meeting up with friends, a late-night date night or even hitting the town solo. Cheers!

July 11, 2019 / by / in , ,