• Move in by 12/15 and get January rent free plus a $500 Amazon gift card! Move in by the end of the year, and get $500 off of January rent/$500 off February rent! *exclusions apply

7 Pointe Pointers

Renters Insurance 101

Prepare for Worst-Case Scenarios

Imagine this scenario: Your upstairs neighbor is filling the bathtub, becomes distracted, and the unattended bathtub overflows. Water leaks through your ceiling onto your brand new television, destroying its electronics. That’ll probably never happen. But if it did, would you be prepared? 


Renters insurance covers damage, destruction, or loss of your personal property that occurs due to a “named peril” (such as a fire or theft). Should the unexpected happen, you’ll be able to repair or replace your personal property. 

Two Types of Coverage

Depending on the type of coverage you have, your insurer may provide actual cash value for your property (the amount your property is worth, based on its depreciation), or replacement cost (the full replacement cost, based on the initial value). Replacement cost coverage may have slightly higher premiums, but it’s worth the expense. 

Where Renters Coverage Applies

Your personal property is portable, so renters insurance applies to your belongings wherever they are. If you were out shopping and someone broke your car window and stole your gym bag out of the back seat, your renters insurance would cover the gym bag and its contents. 

Liability Protection

Renters insurance covers your personal liability (up to a certain amount – usually $100,000). So if someone suffered a serious injury in your apartment and sued you for damages, your insurance would cover your legal fees and damages to the other party. Renters insurance would also allow you to submit a claim to cover a fixed amount of the injured person’s medical expenses (but not your own).


The Best Choice for Renters

7 Pointe Apartments in Indianapolis has partnered with an insurer to help our residents get the best rates on renters insurance. Ask us about renters insurance and our available apartments close to Broad Ripple. Or call us today if you’d like to stop by for a visit: (317) 344-8161.


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