What Is Renters Insurance Really All About?
Renter's insurance is protection intended for anyone who rents an apartment, home or other live-in dwelling. Purchasing renter's insurance can protect you against the risk of fire, theft, windstorms, falling objects, smoke, and vandalism. Another important aspect of renter' insurance is that it protects you against liability in the unlikely event that someone meets harm or injury in your home.
While it is true that your landlord more than likely holds insurance on your residence his insurance normally only covers the actual building you reside in. The burden of replacing your personal property lies on you. The landlord's insurance definitely will not cover any legal responsibility for injury or damage to a guest or their property. In many cases rental insurance may even provide for the cost of a legal defense.
It is also important to make sure you are aware of the different types of coverage and that you provide yourself with adequate protection. Personal property coverage protects the assets in your home such as your furniture and clothing. It also provides protection for those things you may have with you while traveling or away from home.
Loss of use coverage pays for living expenses when an insured loss prevents you from habitation of your home. This includes food and shelter for the duration of time while your home is being repaired or replaced for up to two years.
Inflation coverage routinely augments the amount of your insurance coverage as cost of living expenses increase. Personal liability coverage grants payment for legal accountability according to the limits of your individual policy for damages based on bodily injury or property damage, which are incurred in your home.
Medical payments to others coverage pays the medical expenses for visitors who are accidentally injured while a guest on your premises. This coverage does not pay out to you or your family members who reside with you.
When purchasing renter's insurance you will need to make a decision as to whether to insure your possessions based on their actual cash value or their replacement value. Actual cash value payouts will be based on how much your property is worth post depreciation, meaning if you lose a 10-year-old computer to wind or storm damage you will be paid the cost to replace the same 10-year-old computer. Replacement coverage pays a return without consideration of depreciation.
The best thing about renter's insurance is that for the amount of protection it provides it is still relatively inexpensive and if you purchase your renter's insurance from the same company that insures your automobile you may be eligible for a significant discount.
As with any insurance that you purchase it is important to make sure you understand exactly what may or may not be covered by your renter's insurance policy. Some losses that may not be covered include but are not limited to flood or underground water damage, earthquake, mud or landslide damage or even nuclear hazards. Although your renter's insurance may not cover these disasters it is highly probable that optional or additional coverage may be available for an additional premium.
Timothy Gorman is a successful Webmaster and publisher of Best-Free-Insurance-Quotes.com. He provides more insurance information and offers free money saving auto, home, life, health and renters insurance quotes that you can research in your pajamas on his website.
Discount Auto Insurance - Keep Your Hard-earned Money
Finding discount auto insurance is so easy when you do an online search. There are many insurance companies that do offer this option for many customers who want to search through several different companies to get the best possible quotes. With many of these sites, all you have to do is select the type of discount auto insurance you need, fill in a short form and receive quotes from as many as six different online insurance companies.An online ...(related: Insurance)
Your Cars After-impact Diminished Value
The(ACV)Actual Cash Value Policy DOES NOT insure the property itself but the VALUE of the property.Okay let's say the insurance company chooses to "Repair" their insureds damaged property (as is their option within their contract of insurance). HOWEVER, such an election DOES NOT relieve them of their contractual duty to restore the Pre-Loss VALUE of the motor vehicle...(related: Insurance)
Life Insurance: Why Theres No Need To Be A Desperate Housewife
Life insurance looks set to make a comeback in the UK, after a period of neglect by consumers who were simply occupied with affording a home. The stabilising of the UK house market has made many consumers take a broader view to their personal finances.LifeSearch (a life insurance broker), in the September issue...(related: Insurance)
Motor Insurance With Pass Plus
Is pass plus really worth it? What motor insurance discounts are available to people who have passed the course? Is it easy?In the UK, pass plus is run by the driving standards agency who administer the course. Pass plus was set up by the DSA in conjunction with isnurance companies who wanted to reward young drivers who took a responsible attitude towards tehir safety on the road.The course consists of six varied one hour lessons. You can only take the course once you have passed your driving test. Your driving instructor has to be recognised to be able to instruct on the course.The process is that you take six lessons. Each lesson is designed to educate newly qualified drivers in ...(related: Insurance)
The Immorality Of Guarantee Issue Health Insurance
While there are genuine debates about whether privatized health insurance or nationalized health insurance policies make more sense, there can be little doubt that gua...(related: Insurance)
Reducing Soaring Insurance Claim Costs
With the soaring rise in claims to insurers from their customers, millions of pounds are being lost on a day to day basis throughout the industry in regards to personal property insurance. A new system in the UK provides insurance companies with an easy and effective method ...(related: Insurance)
Home Insurance: Premium Protection In Case Mishap Takes A Rain Check
My whinstone house my castle is, I have my own four walls.This is truth for every home owner. Your home, your castle, your prized possession, your territory - which is certainly more than four walls. You would do anything to protect it against damage and injury. Damage and injury? Is that too dark a statement? Perhaps. But it is also very probable. Mis-happenings and accidents are things that don't have an allotted time slot. Nobody can calculate their coming and neither be prepared for it. You cannot be equipped to tackle them head on but you can certainly equip your self for the repercussions. Home insurance are practically formulated for the said purpose, something that is unlikely you have not heard about. It is also unlikely that you have...(related: Insurance)
Private Health Insurance: A Sense Of Dissatisfaction
The three C's, customization, consumerization and customer-satisfaction, seem to be at the core of the business mantra for every service provider. The health insurance provider industry is no exception to this rule. With an increasing concern among the tax payers of US regarding the number of people uninsured in the country, there is a burgeoning market for the providers. Even though, this seems to be a buyer's market, there seems to be a lot of dissatisfaction among the people with the red tape and bureaucracy involve...(related: Insurance)
Is Life Insurance Comparison Really Necessary?
When you want to purchase a life insurance policy, you really do need to do a life insurance comparison. This is to ensure that you get the best possible rates and the best possible life insurance for your needs. Different life insurance companies sell different types of policies so you need to do a life insurance comparison of all the different types available. You also want to get a policy with low cost premiums.In a life insurance comparison, you have to decide whether you want variable uni...(related: Insurance)
Why Should You Purchase Your Auto Insurance Online?
If you're interested in slashing your auto insurance bill in half then there's no reason why you shouldn't consider purchasing auto insurance online. Buying your auto insurance online is extremely easy and very convenient. The process is fast and only requires filling out a simple form. The best part is you can receive multiple quotes from several different auto insurance providers from the privacy of your own home. You...(related: Insurance)
Keys To Controlling The Future Of Health Care
Several key changes are necessary to get control of the costs associated with the run away health care system in the United States.Here are just a few suggestions:1) Cost information about medical procedures and cost comparisons to alternative treatments need to be more easily available so that consumers can make better educated health care choices.2) Outcomes and outcome comparisons of alternative medical procedures need to be more ava...(related: Insurance)
Internet Insurance Leads
It is a fact that more and more people everyday use the Internet to get insurance coverage. The number of online customers is massive compared to "traditional" business, and it is increasing day after day.However, a...(related: Insurance)