PASSAIC — Last month’s four-alert downtown fires left 60 people homeless, most without insurance to replace their belongings. The city has since proposed an ordinance requiring landlords to notify tenants of the benefits of renter insurance.
“Most of them didn’t have renters insurance,” said Passaic Mayor Hector Rola.
Those displaced received assistance to find new apartments and some essentials, but the mayor said they “put it on the chin.”
In response, local insurance companies and homeowners agree that there are several good reasons to purchase renter insurance.
- protection of personal property.
- Liability coverage for injuries sustained in rental housing and apartments
- Coverage for additional living expenses, including temporary stays in hotels and residences.
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City officials said those who lost their homes and belongings in the October 14 fires would have been less hit and could have recovered sooner if they had had insurance. They would have received insurance money to buy clothing, electronics, and other necessities.
After five years in office, Laura said she has seen many people lose everything to fires and other disasters. This is behind his push for an ordinance requiring landlords to inform prospective tenants about insurance benefits.
“Most people don’t know it exists,” said Lora.
Michael Boggio, an agent for Fairfield’s Acrisure insurance, said renters are too often unaware that insurance is available and affordable.
“It’s not too expensive,” Boggio said. “If you’re covering a property worth about $20,000, that’s between $200 and $250 a year.”
Mr. Boggio said he is increasingly seeing lease language that requires renters to have insurance. This helps limit the property owner’s liability.
“It’s a good move,” said Alex Perez. His family owns and operates the Perez Group and several other companies that rent about 1,000 apartments in Passaic. , forget it.”
According to Perez, his company expects both parties to have insurance in its lease agreements, and it would be a good idea to require all landlords in the city to provide tenants with information on lessee insurance. It is said that
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About 80% of Passaic’s 70,000 residents are renters. A formal requirement for landlords to educate their tenants could go a long way in protecting people, many of whom may not easily get back on their feet if they lose their apartment in a fire, insurance officials say. Stated.
“It should make it easier for them to move on,” Perez said.
He also liked Lora’s idea of possibly holding an insurance fair for renters. Lora said he has five local insurance companies participating in the fair and is trying to schedule dates.
Passaic City Council plans to vote on the bill at its November 10 meeting.