On November 1, 2014, a fire swept through an apartment house in Maine after a Halloween party. Six people ended up dying. The “building lacked working smoke detectors and other safety measures. [The landlord] had stopped maintaining the building and vetting tenants because it was in foreclosure.” See article here.
There are two important points to bring up. One, this landlord should have obviously not been letting his apartments out since they were in such bad condition and, as such, dangerous. It’s unfortunate that the deaths were not seen as his fault.
The second point I wonder about is what protection the surviving residents had. Nothing much is mentioned about them. This article points out a sad truth that laws don’t always protect who they’re supposed to. And you can be sure the landlord’s insurance won’t cover them or their possessions, which is a condition included in most standard rental agreements. And so, this story becomes a good case for renters insurance.
Renters insurance covers lost, damaged, or stolen personal possessions. In different cases like burglary, fire, or water damage from leaky pipes this insurance provides financial reimbursement. So, as in the story above, where everyone ended up losing a home since the building was demolished later, at least they would be financially able to replace the personal items they had lost.
Let us know if you’re interested in signing up for renters insurance or, as a landlord, if you would like renters insurance as an option for your residents offered with your Smart Housing package.
