|
|
|
|
Renters Insurance
|
|
|
Why do you need renters insurance?
Individuals who own their residences never consider having an individual insurance policy to protect their household possessions. Household possessions fall under the umbrella of the homeowner's insurance policy. However, if you rent your residence, are you aware that you do not receive such protection? If somebody breaks in and damages or steals your personal items, you have no recourse at all. The landlord, the property owner, and the rental agent are not liable and you end up paying all of the the cost out of your own pocket. On the occasion where your residence is totally cleaned out in a break-in, this can be a personal financial disaster. Even natural disasters can result in your household assets being reduced to nothing with no protection for you to recover your losses. Unfortunately the majority of renters have no idea or have ever even thought about that this is the circumstance until it happens to them. There is no question that if you lease, you need renters insurance.
While the homeowner's permanent fixtures such as kitchen countertops, fireplaces, bathtubs , as well as movable furnishings are all covered through the homeowners insurance policy, renters coverage does not work in the same way.
As a renter or tenant, you need to only insure the personal possessions such as furniture and any other moveable items that belong to you. All of the other fixed items in the residence, which belong to the landlord and/or owner, are totally his or her responsibility. This is one of the reasons that renters insurance is usually quite reasonably priced and affordable to where it doesn't break your budget. The renters insurance premium only needs to cover your personal possessions that you have brought to the property. If the policy will break your budget, you may want to consider seeking out a lower cost rental unit to where you will have enough money left over to obtain the policy.
Since renters insurance policies are usually quite affordable they can usually be obtained through many insurance agents right in the phone book yellow pages or you may want to search online to compare rates. Some agencies will indicate right in their ads that they sell renters insurance, but usually agents who sell homeowners insurance policies will also sell renters insurance as well.
It will be much easier to compare rates and get a more accurate quote if you prepare yourself before you make the calls for estimates. You will definitely want to make a list and take pictures or videos of all of your personal property items that you desire to cover with the renters insurance policy. It's a good idea to separate your possessions into categories on your list and you should make a separate category for electronics, furniture, and miscellaneous household items. You should write down anything of value, no matter if it is something that is used everyday in your household or if it’s stored in the garage, basement, or attic.
Go room by room, video taping or photographing each item of furnishings and personal property you wish to insure to show their condition at the time the policy was written If the need should arise, this will aid in establishing the value of each item in the case that you no longer have the receipts.
While going from room to room you should also make a list and write down the serial and model numbers of every individual electronic item. Once you have completed this task you should try to locate all the receipts that you have for each item an make a photocopy of the receipt to keep with your list and photographs or videos.
If someone breaks into your residence and takes only your laptop and and plasma television this would still amount to a substantial loss. Having the model and serial number, a photo or video, and a receipt could help substantially in determining the value of the missing items and determining ownership of the stolen property if it should be recovered.
When you call an insurance agent for a quote on your renters insurance policy, be sure to ask about the different coverage plans that they offer. Depending on where you live, be sure to verify if they cover flood, tornado, hurricane, or earthquake damage. If they do, ask if there will be extra charges added to the premium for this type of coverage. You will definitely want to read and confirm everything in the fine print and be sure to do your comparison shopping. The variances on the premiums and extra coverage charges can be substantial between different companies.
Incredibly, the majority of renters do not have any type of renters insurance policy. I hope this article has opened your eyes to see that there is definitely a need as a renter so that you will not become one of the long list of sad statistics - you are missing all of your most valuable possessions and have absolutely nothing at all to show for it. Start the process of obtaining a renters insurance policy today!!!
|
|
|
|
|
Search This Site
|
|
|
|
|
|
|
|
Related Products and Free Videos
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
More Articles
|
|
|
|
If you do have bad credit, you can do some things to make your credit history a little more flattering by talking with a credit counselor, who may be able to help you repair some of your credit problems. If you take the ...
|
|
|
|
If you are renting an apartment with two or more people and one moves out, you can find someone else to take their place and request a new lease agreement to be signed from the property owner. This way everyone is still protected from any ...
|
|
|
|
Renting commercial property such as an office or a storefront may require some remodeling if it does not meet your needs, you can discuss this with the property owner, who usually agrees as long as ...
|
|
|
|
To avoid receiving the renting eviction notice, you should always pay your rent on time, follow set guidelines in the rental agreement and if you decide to vacate the premises because toy cannot pay, talk the property owner and try to arrange to ...
|
|
|
|
If you are renting from a multi-resident property owner, you may have some different clauses in your rental agreement than if you were renting a house or an apartment. Many of these places have ...
|
|
|
|
|
|
|
|
|
|
|
|
Copyright © 2008, DD Smith, All Rights Reserved
|
|
|
|
|
|
|
|
|
|
