Midtown Apartment Fire Reminder of Importance of Renter's Insurance
ANCHORAGE - As the Red Cross helps victims picks up the pieces, it's not going to be easy for the many people lost everything they own in Thursday's Midtown apartment fire. Fires like that one can often serve as a reminder to other renters around Anchorage about the importance of renter's insurance.
CBS 11 News spoke with the Conrad-Houston Insurance company today, who told us if you rent, you face the same risks as a homeowner if disaster does strikes, and it's best to be prepared.
The president of Conrad-Houston, Paul Houston said, "It's one of those things a lot of people that live in apartments overlook; they need to insure their own property that is in the building. The building owner is going to have insurance on the building itself, but for all their personal property that's something they're going to need to insure, and of course there is personal liability insurance too."
Most insurance companies offer renter's insurance policies, and on average the cost is from $100 to $250 a year.