Your renter’s insurance policy from Tackett Insurance, Inc. is a great investment. It makes sure that if you lose your personal possessions due to fire or theft, they will be replaced. It also helps out with medical bills if somebody has an accident inside your Collierville or Memphis, TN home. However, there are limits to what it can do.
Storage Areas in the Basement
Most renters policies only protect items in your dedicated space–not any kind of common area. If you have a storage bin in the basement or attic of the building, its contents would not likely be protected by your insurance. This is due to the fact that multiple people have access to the area and damage would not be limited just to your items in the event of a disaster or criminal entry.
Common Parking Garages
If your apartment has a garage that is accessible only by your unit, that area would be protected by your policy. If you park in a large shed that houses multiple vehicles from different units, that would not be covered. Any tools or accessories you store in this area may not even be covered by the apartment building complex policy.
Decks and Patios
Finally, your shared deck or patio would also no fall under your single unit policy and that would extend to the furniture, BBQ, or bicycle that you leave there. In order to be covered by most renters’ insurance policies, the deck would need to have a tall fence surrounding it with a locked gate preventing any passersby from causing harm or absconding with your gear.
If you have questions about which areas are considered common in your Memphis, TN apartment building, take the time to speak with both your building manager and your agent at Tackett Insurance, Inc.