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.

---

Apply Online for Temporary Health Insurance

There are times when you'll find yourself temporarily without health... Read More

What Are The Differences Between A Cancellation Notice And Non-renewal Notice?

OK, you take that stroll down to the mailbox excitedly... Read More

Mortgage Life Insurance

Owning a home is a dream for most of us,... Read More

Discount Auto Insurance - Keep Your Hard-Earned Money

Finding discount auto insurance is so easy when you do... Read More

Auto Insurance Rates

Auto insurance rates will vary depending on the insurance agency,... Read More

Cure The Insurance Blues By Lowering The Cost of Your Premiums

Does the current amount that you pay on your insurance... Read More

The Immorality of Guarantee Issue Health Insurance

While there are genuine debates about whether privatized health insurance... Read More

Why Dont Insurance Companies Reward Us for Being Healthy?

Insurance is always a gamble, a bet actually.You are betting... Read More

How to Shop for Individual Health Insurance

If you find yourself in the position of shopping for... Read More

High Risk Auto Insurance - How to Lower Rates

How is your driving record lately? Do you have a... Read More

Online Health Insurance Quotes - Finding The Cheapest Rates Possible

Shopping for health insurance can be very discouraging when you... Read More

Health Insurance Coverage

Health insurance is something that everyone needs today. The rising... Read More

Auto Insurance In Texas

If you are looking for auto insurance in texas, you... Read More

Dont Just Accept Your Car Insurance Renewal Quote

UK car insurance companies make substantial profits every year because... Read More

Discover the Fortune Hiding in Your Insurance Premiums!

Ever thought about how to save money? Sure you have,... Read More

Is Your Financial Security at Risk?

The topic of insurance is not sexy by any means.... Read More

Basic Coverage of Homeowner Insurance Policies

The insurance policy is a package that includes more than... Read More

Disability Income Insurance Can Meet All Your Financial Needs

Disability income insurance can cover you in the event of... Read More

How To Take The Guesswork Out Of Buying Term Life Insurance

Protecting your family is the single most important thing any... Read More

Homeowners Insurance Coverage

When deciding on the appropriate amount of homeowner's insurance coverage... Read More

Insurance Adjusters How They Work And How They Think

Here comes the insurance adjuster. Is he overly friendly? If... Read More

The Life Insurance Policy and Its Best Kept Secret

Do you love someone deeply enough to spend your hard... Read More

Term Life Insurance Quotes for Singles

Term life insurance quotes are rarely a concern of single... Read More

MSA or HSA: Can I Keep My MSA Or Do I Need to Convert it into an HSA?

The Medical Savings Account (MSA) is an older form of... Read More

Discount Auto Insurance - Get Low Rates And Superior Coverage

Auto insurance rates can be quite expensive. If you are... Read More

What is Home Insurance?

Home Insurance is designed to provide you with financial protection... Read More

Young Driver Car Insurance

It has become increasingly difficult to get young driver car... Read More

Health Savings Accounts (HSA): Do They Vary From State to State?

The Health Savings Account (HSA) is an amazing tool that... Read More

UK House Insurance - The Risk of Under-insurance

For many years in the UK, motor insurance has been... Read More

Do An Auto Insurance Comparison And Benefit From The Savings

It is very important to do an auto insurance comparison... Read More

Student Health Insurance - Is It Necessary?

As a young, healthy college student, it might be tempting... Read More

Car Insurance Rates ? Can You Lower Them?

Car insurance rates are prohibitive nowadays. Many families really struggle... Read More

Talking to Your Parents About Insurance

Who can you talk to about auto insurance? Insurance agents... Read More