Tenants and landlords: Protect yourself in light of recent fires

To the Editor:

Insurance — it’s an expense when you are paying for it and don’t need it. It’s worth every single penny if and when you do need it.

TENANTS: According to a local official, only 1 of the 9 tenants in a recent fire in Lewistown had RENTER’S INSURANCE. Eight families will need to rebuild their lives and households paycheck by paycheck. You can’t count on enough help or contributions. The landlord’s insurance DOES NOT COVER YOUR BELONGINGS. Renter’s insurance is not really expensive and could save you a ton of grief.

LANDLORDS: Did you know that your insurance policy may not cover a fire if your unit is empty, even if you are actively working on it to get ready to re-rent? It’s called “change of risk”. Vacant units apparently suffer more losses than occupied units. A member of our local RENTAL PROPERTY OWNERS ASSOCIATION shared his experience and loss of his property with zero recovery from insurance. The landlord needs to contact their agent when a unit goes empty. The premium is much higher but still a whole lot less than ending up with nothing, which happened to our member. All those years of paying insurance premiums, mortgage, management, repairs, and time — gone quickly.

I have filed a few fire claims in my 50 years as a landlord. So glad I was properly insured. Ask your agent to explain what is and is not covered, then take the necessary steps to protect your valuable assets.

Doug Sellers

Lewistown