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Understanding Pet Insurance for Your Next Apartment Rental

Understanding Pet Insurance for Your Next Apartment RentalAn often overlooked aspect of apartment living with a pet is the pet insurance you should be purchasing. While your pet is one of your best friends and a member of the family, sometimes situations can arise that can put this in jeopardy especially in apartments.

The pet could become antsy while you are away and take out their anxiety and frustration on the carpet, the walls, or other areas of the apartment. If this happens, it can cause extensive damage and can ultimately cost you a lot of money to fix.

Difference Between Renters and Pet Insurance

Many have heard of renter's insurance, but it is important to know the difference between this and pet insurance. Renters insurance will typically only cover damage caused by significant events such as flooding and fire and anything else that could cause property loss. Some renter's insurance policies include pet insurance, however, and they also offer legal coverage in case your pet injures someone on the property.

Check your current renter's insurance policy to see if they cover any pet-related damage. Some situations, for example, may be covered while others are not. This information is important to know if you are going to move forward with purchasing a new policy.

Who Provides Pet Insurance?

Many of the leading insurance companies offer some form of pet insurance. You could also find a combination of renters and pet insurance and cross two major things off your list before moving.

When you move into a new apartment with your pet, you want to make sure you are covered for a variety of situations that could arise. If you don't take the time to research pet insurance policies, then the costs of the damage and other liabilities may end up costing you much more than you ever thought.

Purchasing Coverage

When purchasing your pet insurance policy, there are several considerations to keep in mind:

• Does your renter's insurance cover pet liability?
• If they only offer low coverage, consider a second and separate policy
• For cost-effectiveness, a personal umbrella liability policy may be best
• What breed of dog do you have? Some insurance companies will refuse coverage for certain breeds, so it is important to find this information out before trying to purchase a policy

Keep all this information in mind when it comes time to move and obtain new renters and pet insurance for you and your furry friend.

Are you still looking for the perfect apartment? Contact us at Lockwood Family Living today.