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Why
Renters insurance?
Renters
Insurance policies
are designed to indemnify (cover your loss) you in the event of a
covered loss to your personal property and protect you in the
event you are responsible for bodily injury or property damage to
others. It is available for apartments, rented house, condo,
co-ops, dormitories, and roommate arrangements. It is estimated 75% of Renters do not have coverage. Most homeowners
HAVE TO. More and more landlords are requiring Renter's
Insurance as a condition to rent.
Rentlaw.com has enabled you
to apply for free online insurance quotes
and
receive information from more then one insurance company.
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Suppose
you have visitors to your apartment and someone slips on a wet
kitchen floor and breaks an arm? Who's responsible for
medical costs? In most circumstances
you are.
Renters insurance generally provides "named peril"
coverage, meaning the policy states specifically what you are
insured against.
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Example perils include Fire or Lightning,
Smoke, Vandalism, Theft, Accidental
Discharge of Water and 10 or more others. Your agent can
detail these.
Liability
coverage also includes Medical Payments coverage, which
applies to nonresidents of the insured premises. This
coverage pays for the actual medical expenses incurred up to the
limit for a non-resident guest.
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Always
read the contract for specific explanations of coverage and
exclusions.
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Your
Insurance Quote - Tip#1 |
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for your free quote. |
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When getting an insurance
quote on your rental, condo or home, consider asking for a
quote on an Auto Insurance policy as well. Often the
insurer offers a discount if you carry both Auto,
Home or Renter Insurance policies with the same company.
Free Quotes from qualified agents. |
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Renters
Insurance Costs |
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for your free quote. |
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You
might think you don't need Renters
Insurance
if you rent, but think again! Add up the cost of your furniture,
your electronic equipment, your CD collection, computer, garments
and other personal property. Can you afford to replace everything
in the event of a fire or burglary?
Renter's
Insurance is relatively inexpensive. The average cost of renter's insurance
begins about $12 a month for around $30,000 worth of property
coverage and $100,000 worth of liability coverage. |
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Rates
vary depending on coverage and your location and the amount you
want to cover.
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Renters Insurance may cover |
Click
for your free quote. |
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Repair or replacement of your personal
property damaged, destroyed or stolen as the result of various
types of peril -- fire or lightning, windstorm or hail,
explosions, smoke, vandalism, theft, damage by glass, electrical
surge damage, and water-related damage from home utilities, and
more. If your home is made unlivable by one of these perils, Renters
insurance will pay for the associated expenses (cost of a
temporary residence, meals eaten out, etc.). Coverage is
usually limited to a percent of the total value of the policy. Renter's
insurance provides the security of knowing that if you
lost everything today, you wouldn't be forced to start from
scratch. Renter's insurance can
even cover you for personal possessions that don't happen to be in
the apartment at the time of the loss. If that friendly tour guide
in Milan happens to find his way back to your hotel and makes off
with a suitcase full of your stuff, you don't have to just suffer
the loss - in some policies. |
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Get
a FREE QUOTE
on Renters Insurance
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Actual Cash vs. Replacement Cost
Value? |
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Although you will pay about 15 percent more for it, you're usually
better off with replacement cost coverage, which pays for
what it actually costs to replace the items you lost. Actual cash
value, on the other hand, pays only for what your property was
worth at the time it was damaged or stolen. |
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| Lower
Your Insurance Costs |
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Typically
you can lower your cost even further
by getting a policy with roommates, increasing your deductible or
having multiple policies with the same carrier (Renters
insurance and auto
insurance, for example). It's certainly cheaper than replacing
all your possessions. |
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| Landlord
is Responsible, right? |
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Of
course, you can always count on part of your landlord's policy,
right? Well, not quite. Many renters are under the
impression that their landlord's policy covers their belongings as
well. Unfortunately that's
not
the case, and they often don't find that out until the worst
possible time, after a disaster or a robbery. Your
landlord's policy doesn't cover anything that's yours. The
only exception to this would be if the loss was caused by
negligence on the part of your landlord, and then you would still
have to prove it in court. That is where Renter's
insurance comes in. |
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Get
a FREE QUOTE
on Renter's Insurance or read on
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| Complete
the quick form |
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Complete our simple, quick
form you will get FREE Renters Insurance
quote s
so you can compare a number of insurance companies and plans to
find the policy that gives you the best value for your money.
You'll
also have the unbiased information you need, like how a company
rates in the business world, so you can feel safe with your
decision. Click
here for the quick, free, Renter's Insurance Quote form
or
finish reading our guide. |
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More
Insurance Facts. |
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Here
are just some of the facts you need to know when deciding whether
or not you need renter's insurance.
FACT:
Your landlord's policy does not cover any part of your belongings.
It covers the structure alone.
FACT:
Basic Renters
insurance also provides you with liability in case someone is
hurt in your home and decides to sue. An average policy includes
about $300,000 in liability coverage.
FACT: A basic renter's policy covers 17 perils, but floods and earthquakes
are not included. However, you can add flood and earthquake
coverage for a relatively small amount of money. Flood
insurance is covered by a government - subsidized
program and.
FACT: If you live in a dormitory, your parents' policy may cover
you. If you live in an apartment, it probably doesn't. In either
case, you should check with your parents and their agent and not
take for granted that you're covered for Renters
insurance .
FACT:
The most common disasters are fire and flood.
FACT:
After a disaster, you may not be able to return to your apartment.
Renter's
insurance can pay for temporary housing or foot the bill for
permanent relocation.
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The
Purpose of Renters Insurance |
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The
purpose of Renters
insurance is to provide you with quicker recovery by
relieving some of the financial burden in the event of the
unexpected.
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