A large fire wrecked 15 row homes this week in Easton’s West Ward. An equally large outpouring of charity seeks to ensure that the needs of dozens of affected residents are covered.
Linda Edwards has seen the destruction wrought by fires before. And each time, she hopes the residents also had a different kind of coverage: renters insurance.
“Being in insurance, that’s the first thing I wonder,” said Edwards, a manager at Kressler, Wolff & Miller, an independent insurance agency in Easton. “A lot of people don’t think about it. They don’t think anything will happen.”
A landlord will have the building insured but those policies don’t extend to tenants’ belongings, potentially leaving them on the hook for the full cost of replacement for things like furniture, clothes, kitchen utensils, etc. Renters insurance protects that property from fires, theft and some other forms of damage.
The Pennsylvania Insurance Department says most policies are relatively inexpensive, ranging from $15 to $30 per month. The rate can vary based on location, the local fire department and even the distance of the nearest fire hydrant. Edwards said most policies in the Lehigh Valley can cover $20,000 to $30,000 of belongings for under $200 a year. Bundling with another form of insurance like auto coverage could net additional discounts.
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The prevalence of renters insurance is unclear but an online poll by SafeHome.org found 55% of U.S. renters had such policies in 2022. Edwards said it is common for apartment complexes, especially newer ones, to require coverage.
When shopping for renters insurance, be aware of the gaps — it likely does not cover floods, sinkholes or some other disasters. And valuable items like jewelry or antiques may require a specific conversation with an agent.
Edwards advised renters to take stock of their belongings. A photo or video inventory stored in a data cloud can come in handy when memory might fail after a catastrophe. And the value of destroyed or damaged items, even cheap ones, can quickly add up.
“They probably have more than they think they do,” she said.
MORE EASTON FIRE COVERAGE
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Steve Novak may be reached at snovak@lehighvalleylive.com.
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.