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.
Homeowner insurance quotes can vary in the amount they cost... Read More
Your latest car insurance bill has arrived and it is... Read More
Health Insurance: a sense of dissatisfactionThe three C's, customization, consumerization... Read More
Insurance versus assurance: what is the difference?Should you care?Yes!!The world... Read More
One of the most important things you will ever do... Read More
If you've been out of school for a couple of... Read More
Cheap insurance? Auto insurance, life insurance, health insurance, liability insurance... Read More
Here's the good news: with improvements in medical technology and... Read More
Health insurance providers are going online to find new customers.... Read More
As a property owner it is essential to protect yourself... Read More
The Health Savings Account (HSA) is becoming well-known as an... Read More
Non-profit groups in this day and age need to watch... Read More
I've long wanted to write an article about Internet Leads... Read More
Trying to save money wherever you can is important to... Read More
Disability insurance covers you for an extended period of time.... Read More
Human life is precarious and so are the activities they... Read More
The Health Savings Account (HSA) is an amazing tool that... Read More
If you are an expatriate planning on long-term residence in... Read More
How do you put a value good health? For many... Read More
A "Life Settlement" is a lump sum settlement paid to... Read More
The Terrorism Insurance Act of Nov. 26, 2002. This helps... Read More
The original purpose of life insurance was to provide for... Read More
Life insurance quoteThank goodness John took his life insurance quote... Read More
Here are some useful tips on how to reduce car... Read More
Many personal auto insurance companies consider your credit information when... Read More
If you run into a billing problem or misunderstanding with... Read More
Do you like to spend all day being sitting around?... Read More
Several key changes are necessary to get control of the... Read More
Catering truck insuranceNot many agents/brokers write catering truck insurance as... Read More
In the early 1980's Medicare started using a system called... Read More
One of the most important things you can do as... Read More
Most people want lower insurance costs but are often too... Read More
Pet Health Insurance can give you the peace of mind... Read More
The Terrorism Insurance Act of Nov. 26, 2002. This helps... Read More
Whether you are self-employed or a small business owner, finding... Read More
I have written many articles about the hard surety bond... Read More
What is auto insurance? Auto insurance (or car insurance, motor... Read More
Auto insurance rates can be quite expensive. If you are... Read More
With a rise in those looking to venture out on... Read More
A recent survey took the most popular type of home... Read More
The(ACV)Actual Cash Value Policy DOES NOT insure the property itself... Read More
Life insurance is a personal insurance plan designed to pay... Read More
Health Insurance: a sense of dissatisfactionThe three C's, customization, consumerization... Read More
Do you like to spend all day being sitting around?... Read More
Your latest car insurance bill has arrived and it is... Read More
If you are in the market to purchase your own... Read More
Gone are the days of the cinder block and wood... Read More
In the early 1980's Medicare started using a system called... Read More
First the bad news: about 2,000,000 personal bankruptcies each year... Read More
The best judge of Total Disability and/or Partial Disability is... Read More
To get the cheapest possible quote for your car insurance,... Read More
If you're planning an overseas trip, you need travel health... Read More
A couple months ago you were toolin' on down the... Read More
You can withdraw money from your Health Savings Account (HSA)... Read More
What is the impact of increased flooding risk in the... Read More
California high risk truck insuranceIf your are in need of... Read More
When you originally purchased your auto insurance policy, you purchased... Read More
You've finally saved enough to go on that dream vacation... Read More
Drivers are applying for auto insurance online not just for... Read More
By searching online for life insurance, you can get a... Read More
1. Comply with recommendations from company engineers and loss control.... Read More
One of the greatest pleasures that a man can have... Read More
An auto insurance claim adjuster works for the insurance company... Read More
The average auto insurance policy price is derived from a... Read More
Rental car agencies have a menu of insurance policies they... Read More
In response to a hard insurance market in the mid... Read More
Insurance |