tag:blogger.com,1999:blog-70104053037746800822012-02-16T02:10:08.976-08:00What EVERY renter should know about RENTER'S INSURANCE!qlakeynoreply@blogger.comBlogger21100tag:blogger.com,1999:blog-7010405303774680082.post-76934532268865575112009-01-06T20:57:00.000-08:002009-01-15T00:22:18.595-08:00<big><big>1. What Does Renter's Insurance Cover?</big></big><br /><br />~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.<br /><br /><big><big>2. What Isn't Covered by Renter's Insurance?</big></big><br /><br />~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.<br /><br /><big><big>3. How Much Coverage Should You Purchase?</big></big><br /><br />~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!<br /><br /><big><big>4. Read the Fine Print for Limits and Exclusions</big></big><br /><br />~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.<br /><br /><big><big>5. Take Advantage of Discounts for Your Policy</big></big><br /><br />~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.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/7010405303774680082-7693453226886557511?l=rentersinsurancesecrets.blogspot.com' alt='' /></div>qlakeynoreply@blogger.com1tag:blogger.com,1999:blog-7010405303774680082.post-67943208994001890332009-01-06T20:47:00.000-08:002009-01-15T00:11:54.326-08:00<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/_tviTqvqnPjY/SW7vwkEaXoI/AAAAAAAAABg/HTPOS817sjI/s1600-h/fire-3.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 266px;" src="http://1.bp.blogspot.com/_tviTqvqnPjY/SW7vwkEaXoI/AAAAAAAAABg/HTPOS817sjI/s400/fire-3.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5291430229801852546" /></a><br /><br />The first time most people think about insurance is with their first car or home. Usually this is because the law or bank requires us to do so. Although renter's insurance is usually not required, it is just as necessary to have. Not only will renter's insurance protect your personal items, it will also give you help with temporary housing and liability protection such as medical expenses for people on your property or a lawyer if you are sued by someone unintentionally injured by you. Once you determine your need for renter's insurance, knowing your options will help you choose the best policy.<br /><br />If the ceiling in your rented property is damaged by wind or hail in a storm, of course the ceiling is covered by your landlord. <span style="font-style:italic;">But what about your brand new stereo and TV that was damaged?</span> Also, while the ceiling is being fixed, do you have enough money to immediately find another place to stay? These are the types of things that would be covered by your renter's insurance policy. Along with personal property coverage and living expenses, your renter's insurance policy will also cover your liability or damage you cause to others or their property. For example, your girlfriend comes over to visit and she slips on the ice outside your door. The same walkway that is your responsibly to keep clear! Your girlfriend needs medical attention and decides to sue you! Renter's insurance can't help with your broken heart, but it will help you pay for your ex-girlfriend's medical expenses and a lawyer.<br /><br /><span style="font-weight:bold;">Now that you have decided renter's insurance is for you, there are some things to consider when purchasing your renter's insurance policy:</span><br /><br /><span style="font-weight:bold;">1.</span> Dollar Amount of Coverage: This is a leading factor in the price and coverage. A dollar amount is not placed on each piece of property, instead a fixed amount for all of your possessions will be determined. Of course, the more coverage you purchase, the higher the price of the policy.<br /><br /><span style="font-weight:bold;">2.</span> Deductible: This would be a leading factor to consider in the cost and how much you are willing to pay out of pocket before your insurance kicks in. Coverages subject to the deductible would be everything except liability coverages, like paying for your girlfriends medical expenses.<br /><br /><span style="font-weight:bold;">3.</span> ACV(Actual Cash Value) or Replacement Cost: When the insurance company comes to reimburse you for your stereo and TV what they give you is determined by these factors. A basic policy will pay you ACV, which is the value of the property at the time of loss. But, if you opt for replacement cost you will get an actual replacement. For example, your 5 year old stereo will be replaced with as much money as it would cost for you to purchase a new comparable stereo. Expensive items prone to theft such as jewelry and guns, only have limited coverage so it is wise to place these items on a separate policy. Replacement cost is well worth the small amount more it may cost for your policy.<br /><br /><span style="font-weight:bold;">4.</span> Location and Previous Claims: If you rent in an area prone to thefts you will probably pay more for your insurance and if you or the previous person or neighbors have had a large amount of claims, this may raise the cost of your policy.<br /><br />Even if you feel your personal property is not worth enough to insure, the value of having liability coverage is well worth renter's insurance. Remember, as with all insurance policies, check with your agent on specific coverages. Each policy can vary between companies and states.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/7010405303774680082-6794320899400189033?l=rentersinsurancesecrets.blogspot.com' alt='' /></div>qlakeynoreply@blogger.com0