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FORT HOOD, Texas -- Renter’s insurance is now required to protect Fort Hood Family Housing residents and their household goods.
The policy went into effect April 1 and requires FHFH residents to obtain at least $100,000 in liability insurance prior to move-in and maintain the coverage throughout their stay.
“This is a normal business practice in the housing market,” said Chris Albus, Fort Hood Family Housing project director. “We are requiring coverage to protect the residents and their household goods.”
Renters insurance is property insurance specifically designed for those who do not own their homes. The coverage protects against damage from fire, vandalism, theft and several other unplanned occurrences and ensures the resident isn’t stuck paying to replace everything that was lost or damaged.
Most military families move an average of every three years and the process of finding suitable housing can be all-encompassing; leaving little time to consider things like renter’s insurance. However, the small cost to maintain a policy could help renters avoid a huge financial pitfall should something unexpected happen.
Renter’s liability insurance, or personal liability coverage, is a standard part of a renter’s policy that can help pay for property damage, bodily injury, medical bills and more if residents are found liable.
It may help pay for another person’s medical bills or repairs to their property if a resident is found legally responsible for their injuries or property damage. Renter’s liability coverage may also help cover legal expenses if residents are sued over an incident that occurs in the place they’re renting.
Many residents assume landlords provide insurance coverage to protect them and their belongings. While property owners do provide coverage for the structure, that coverage typically does not extend to the resident or their personal property.
Albus said the motivation behind the mandate is to “protect our residents in the rare case of damage to their property from any unforeseen events during their stay in on-post housing or from any liability incurred by residents.”
Coverage must be obtained prior to signing a lease and insurance policies must list Fort Hood Family Housing as an interested party.
Renters must submit either a declaration sheet, a certificate of coverage or a confirmation of coverage letter from an agent or insurance company prior to move-in to obtain or renew a lease.
Though the required minimum is $100,000 of liability coverage, that amount can vary depending on income, other assets and what the resident wants to protect. Hence, residents may need to consider additional coverage to ensure finances are safe should they be found at-fault for injuries or damages.
Residents can choose their own insurance provider, or they can opt to secure coverage through ResidentShield, an easy and affordable option for renters insurance offered by FHFH.
Impromptu events are an everyday part of military life, but liability insurance can make instances like unexpected dog bites, accidental falls and inadvertent damages to household items less of a concern.
“It will provide peace of mind to the resident for any unforeseen circumstances which may occur during their stay with Fort Hood Family Housing,” Albus reassured.
Residents should contact their leasing professionals or their community management staff for more information.
| Date Taken: | 04.27.2023 |
| Date Posted: | 06.23.2023 10:22 |
| Story ID: | 447387 |
| Location: | FORT CAVAZOS, TEXAS, US |
| Web Views: | 45 |
| Downloads: | 0 |
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