3 insurance lessons from an apartment fire

3 Insurance Lessons from a Johnson City Apartment Fire

In early December 2022, a tragic apartment fire in Johnson City left many residents without a place to live. Thankfully, nobody was injured, but one dog died in the incident, and some residents lost all of their possessions. In this blog, we will explore the lessons that can be learned from this apartment fire. We will look at how renters’ insurance can help protect your belongings and how to make sure you are adequately covered in the event of a fire in your apartment.

Apartment Fires in Tennessee

According to the National Fire Protection Association (NFPA), in 2019, there were 1,125 reported fires in apartments and multifamily buildings in Tennessee. Approximately 600 people have died in the last decade in fire-related incidents.

Protecting Yourself From Apartment Fires

Nobody is immune to fires, and it pays to be protected. Here are three ways you can protect your belongings and family in the event of an apartment fire.

1. Purchase Renters' Insurance

Renters’ insurance is an important kind of coverage that protects your belongings inside of your rental property (home or apartment). It operates similarly to home insurance, offering property and liability protection. However, recent estimates tell us that almost 2/3rds of the 81 million home renters in the United States are uninsured.

If your apartment was to catch on fire today, would you be prepared with adequate renters’ insurance? If not, you need to get on that quickly!

To illustrate the importance of renters’ insurance, one newly-wed couple in Johnson City had neglected to purchase renters’ insurance when they moved into their rental home. One night, someone stole all of the husband’s tools from his truck. He lost thousands of dollars from the theft. Don’t be a statistic! Sit down with a local independent insurance agent who can help you purchase the right coverage.

AI-generated image of an apartment fire in Johnson City, Tennessee
AI-generated image of an apartment fire in Johnson City.

2. Check Your Renters' Insurance Policy Floaters

While renters’ insurance protects most of your possessions from damage or theft, there may be some exclusions depending on your policy. For example, some policies don’t cover expensive items such as expensive jewelry or some antique firearms. Be sure to ask your agent about the exclusions on your policy and work with them to make sure all of your valuables are covered.

3. Living Expenses

If your apartment or rental home were to burn down, you would need somewhere to stay in the meantime. Some renters’ insurance policies cover living expenses like hotel or additional food costs, but not all do. Again, it’s important to check with your insurance agent on the exclusions in your policy.

Fires Can Happen to Anyone: Be Prepared!

Nobody likes to think about it, but a house fire could happen to anyone. It’s important to be prepared with adequate insurance. If you are concerned about your current coverage (or lack of coverage!), or are looking to rent in the near future, reach out to our insurance team based in Johnson City. As a local, independent agency, we can help you find the best value coverage for a competitive price.

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