Utah: Your Need for Renters Insurance
Did you realize your apartment community's insurance policy does not cover your personal belongings when a natural disaster strikes? Most apartment communities' insurance only covers damage to the building, leaving your belongings uncovered. Renters Insurance offers protection for your personal property when fire, theft or a natural disaster occurs. Between the years of 1976 and 2004, Utah had five declared major disasters. Renters Insurance also can cover your liability if someone is injured in your home.
Can you imagine trying to replace your personal belongings, if damaged or destroyed, straight out of your pocket? Don't realize the importance of Renters Insurance when it is too late. Don't wait until it is too late to realize the importance of Rental Insurance. The affordable premium is well worth the peace of mind.
Learn more about prominent risks in Utah and the surrounding area:
Theft
U.S. Department of Justice's Bureau of Justice Statistics reports that rented households were burglarized at rates 79 percent higher than owned households. In 2001, the bureau reported that rented households experienced 210 property crimes per 1,000 households nationwide, while owned households experienced only 146 property crimes per 1,000 households. In 2004 alone, 513,266 burglaries occurred in the West according to statistics reported by the Federal Bureau of Investigation. As you can see, the most common threat to an apartment unit in the nation, as well as in Utah, is burglary. Unfortunately, your apartment community's insurance doesn't cover your personal belongings lost due to theft. Do not let fences or gates at your community mislead you to think your apartment community is safer. On most low-crime communities, the main purpose of gates for apartment properties is to provide the sense of privacy and exclusivity.
Fire
Fire is a risk in all states, including Utah. The U.S. Fire Administration reports that direct property loss due to fires was estimated at $9.8 billion in 2004. According to the Federal Emergency Management Agency, apartment fires accounted for 23 percent of residential fires between 1992 and 2001 as well as accounted for 20 percent of the dollar loss from residential fires during these years. With these kinds of statistics, it is better to be prepared and protect your property from this risk.
Earthquakes
Impossible to predict, earthquakes can cause significant damage to your property. Earthquakes occur frequently in Utah, Oregon, California, Hawaii, Nevada, Washington, Idaho, Wyoming, Montana and Alaska. In 1994, the Northridge earthquake struck the San Fernando Valley region of Southern California. Although it was considered a moderately strong earthquake, the $20 billion in property damage ranked it the costliest seismic disaster in U.S. history.
Blizzards
Blizzards can severely impact most of the Midwest and Northeast region of the United States, as well as Utah. A major blizzard struck portions of the Midwest on January 1999, which produced 22 inches of snow in Chicago. The blizzard was rated by the National Weather Service as the second worst blizzard of the 20th century, ranking behind the blizzard in January 1967. The surrounding areas within Illinois, Wisconsin, Indiana, Michigan and Ohio experienced over 15 inches of snow. In 1996, a blizzard piled on 20 inches of snow in New York City and damage costs estimated $1 billion to the New York area.
Wildfires
Wildfires are a threat in Utah, as well as a risk to all of the United States. Wildfires consume thousands of acres of land, threatening the apartments, homes, and lives of many in the vicinity. An average of five million acres burn every year in the United States, causing billions of dollars in damage. According to the National Fire Protection Center, wildfires that occurred in Southern California in October and November of 1993 resulted in an estimated $809 million in property damage.
Tornadoes
Tornadoes are nature’s most violent storm. Although tornadoes affect all states in the nation, including Utah, they highly impact Texas, Oklahoma, Kansas, Florida and Nebraska. Surrounding areas of Norman, Oklahoma had over 473 apartments destroyed and damaged 568 apartments. The National Oceanic & Atmospheric Administration reports about 1,000 tornadoes across the United States in an average year. The ‘Tornado Alley’ extends roughly from the Rocky Mountains to the Appalachians and from Iowa and Nebraska to the Gulf of Mexico.
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