Read the Fine Print: Not All Apartment Renter’s Insurance Policies are Created Equal | Property Management Insider

"I was reminded recently of the story (probably an urban legend) about a Charlotte-based lawyer who bought an expensive box of 24 cigars and insured them against some standard perils – water, explosion, and fire. After about a month, the lawyer filed a claim to the insurance company because the cigars were lost in “a series of small fires.” The claims adjuster denied the claim after correctly determining that the man smoked all the cigars himself. After a court battle, the judge awarded $15,000 to the man because the insurance provider never clearly defined the fire peril. The insurance company got even in the end. The lawyer was arrested and sentenced to 24 months in jail and a $24,000 fine for 24 counts of arson and insurance fraud.

While not quite as entertaining, the multifamily industry is replete with odd but true apartment renters’ insurance claims."

Read more...Read the Fine Print: Not All Apartment Renter’s Insurance Policies are Created Equal | Property Management Insider