Insurance ResourcesHomeowners insurance doesn’t have to be expensive. In fact, if you comparison shop for insurance you’ll find that rates can vary as much as $1,000 a month from one company to another. Click the button below to see how much money you can save by getting rate quotes from multiple companies.Understanding how insurance works is important if you want to be sure you’re getting the right coverage for your particular needs. Don’t be in the dark about your insurance. Click on the link below to get a complete guide to what homeowners insurance does and doesn’t cover.There are a number of ways to save on insurance in addition to switching companies. Click the button below to see various methods you can use to save on your home insurance costs.
Renters Insurance - What You Need To Know
Insurance coverage is more common to home owners than it is to renters. This may be due to the fact that people are more risk averse when they are handling their own property that when they are handling others’. However, even as a renter, it is still important for you to purchase a policy because in as much as you may not incur a loss when the house or apartment catches a fire, or any other disaster occurs, you may still lose your personal property.Normally, every landlord as the homeowner has coverage for their property, but most of the time, when a disaster strikes, it may not be their call to ensure that your personal property is replaced. As a matter of fact, all they will care about is their own house or apartment. This is the reason why, as a renter, you need to have your personal belongings covered. Since this coverage does not include the physical building in case of any catastrophe, it will be much cheaper than home insurance, something which should encourage you to apply for coverage. When you get renters insurance, you will get coverage for all your possessions lost in a fire, damaged by smoke, stolen in a burglary, or damaged by an explosion, wind, or lightning. Disasters like floods may, however, not be covered. Renters insurance may be cheaper when you opt for installing alarms into your home or apartment. In addition to that, this insurance covers your court defense fees when you cause damage to other people within your home or outside, if they press charges.If your home or apartment is damaged by a disaster, for instance a fire, you may need to vacate your premises until there has been a complete renovation. During this time, renters insurance covers your additional living expenses. This is normally calculated as the difference between your additional expenses and your normal expenses. If you are a renter, therefore, you may want to consider the following options for your insurance policy:•Cash value coverage: this will pay for your personal property less the amount of depreciation, depending on your policy’s limit.•Replacement cost coverage: depending on your limit for the policy, this pays the exact actual cost for replacement of your personal items.As a renter, your policy comes with a limited coverage for your expensive items. In this case, therefore, you may want to go the extra mile and get extra insurance known as a floater. With this coverage you won't have to worry about the accidental loss or theft of things like silverware, jewelry, or furs if you have them. This is even more important if the total value of your property is much more than the renters’ insurance limits. At the end of the day, before you settle for a package that will best fit your needs, be sure to talk to an insurance professional to make sure you get the right coverage.
Here’s a video explaining renters insurance coverage