1. What Does Renter's Insurance Cover?
~Your renter’s policy will protect you if your apartment burns down and also from theft. Additionally renter’s insurance includes liability protection. This protection covers medical expenses if someone is hurt inside your apartment. This insurance will also help you to replace items that are damaged or stolen. The liability insurance is nice, because it will also protect the assets and savings that you have acquired.
2. What Isn't Covered by Renter's Insurance?
~It is important to realize that a renter’s insurance policy does not cover everything. Most insurance policies will not cover a flood. You will need to purchase an additional policy to cover flooding. This is especially important if you live in a flood plain area. Many apartments will let you know if they are located in a flood plain. There are also may be a few other things not covered... so check the fine print.
3. How Much Coverage Should You Purchase?
~You need to determine the amount of your insurance policy. When you do this, you should carefully consider the costs of everything you have. If you are robbed, you will likely only need to replace jewelry and electronics. If you are the victim of a fire, then you will need to replace your clothing, your furniture and other personal effects in addition to your electronics. There are a few programs on the market that will help you keep track and inventory your items. There are a few Links to some of those sites here on this site. Check them out.... It is a great service!
4. Read the Fine Print for Limits and Exclusions
~Remember to read your policy carefully! Some insurance companies put a limit on the amount that they will cover in different areas. They may limit the total amount that they would pay in electronics to $500.00. If this is the case, then you would need to purchase an additional policy to cover those items or look for a policy that covers a larger base. If you work from home, you need to consider the cost of the equipment that you use. You may need an additional policy to cover your liability in relation to your job.
5. Take Advantage of Discounts for Your Policy
~When you purchase your renter’s insurance, it is important to shop around. There are many companies. Your Insurance Company may give a discount when you have mulitiple things insured through them. You should check for discounts through your job, professional associations, and alumni associations as well.
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4 reasons why a Wireless Home Security System is good for Renters
ReplyDeleteRenter’s insurance covers your valuables that may not be part of your landlord’s policy. Just like Home owners insurance, your policy can protect you from unforeseen situations like fire, theft and liability against accidents in your home.
If you install a portable security system, the cost for carrying a policy can be reduced an addition to giving you peace of mind when protecting your family and possessions.
Home based security systems can be installed by professionals or weekend warriors and can be a critical tool in keeping your family safe from intruders and disasters. If you are looking for a DIY home security system, you basically have 2 designs to choose from; hard wired or wireless.
Wireless systems are flexible in their design and can be used in most locations such as rental homes, apartments and condominiums. Wireless security systems can be removed when the property is vacated. If you are moving to a new home you should be able to retrieve all the sensors and relocate them to your new residence.
Here are just a few of the items you need to think through why a wireless home security system is good for renters:
1. Home security can reduce your exposure to theft
2. Your system can protect your family from intruders and alert authorities automatically
3. Home Security Systems can alert fire departments and reduce damage and liability costs
4. A Wireless system requires no drilling which will make your landlord happy.
In summary, your security strategy should be comprehensive, but your ability to install the system may determine the overall design. A wireless based security system can not only protect you and your family, but can reduce your renter’s insurance dramatically.
Gravity Gardener
http://gravitygarden.com/why-we-need-insurance/buy-renters-insurance.html