Everyone Needs Insurance: Celebrity Edition
Regardless of income, people need insurance to protect their valuable property. Life and Mother Nature make no exceptions and can cause destruction of any size for anyone. From the destruction of a residence to a break-in at a self-storage facility, these real scenarios illustrate the importance of protecting your property with the appropriate insurance.
In November of this year, actor Frankie Muniz left his home to attend a family funeral overseas. Although he was only away for a few days, that was enough time for disaster to strike. The person hired to watch the residence could not get into the property or reach Frankie while he was overseas. At some point, Frankie’s unsupervised cat managed to turn on a water faucet. By the time the actor returned home, his entire brownstone and all the contents had been destroyed. Read more about the story here, (source)
While Frankie Muniz owns his home, many apartment dwellers who rent do not have renters insurance to protect their property. Most renters insurance policies would include coverage for property loss due to water damage, although there may be restrictions on damage caused by flood. Be sure to check with your insurance agent and understand the coverages included in your policy.
Many people lost their homes this summer due to the California wildfires, including singer Miley Cyrus. But her bad luck didn’t stop there. A few weeks after losing her Malibu home, thieves broke into her storage unit and stole guitars valued at $10,000. (source)
MiniCo offers tenant insurance (link) that protects against theft and other losses that can occur to items in storage units. Do not assume that your items in storage are automatically insured. In most cases, a self-storage facility is not responsible for insuring your stored items. Tenants are responsible for purchasing their own insurance. Be sure to read and understand the rental contract for your self-storage unit.
Unexpected things happen all the time. That’s why there is insurance. Be sure to check out the variety of insurance products offered by MiniCo (insert link). While the incidents that involve insurance are usually negative, that isn’t the case for every unexpected event. Recently, someone purchased the contents of an abandoned storage unit and discovered a 50-year-old lost wallet belonging to actress Diane Keaton! (source)