BUYING GUIDES..since 1995
|
GALT HOME:
Internet Guides - Finance - Audio/Video - Travel - Household/DIY - Health - Cars - Fashion - Sports - Entertainment - Cell Phones |
| MENU: Technology and Internet Guides | Travel | Health | Household | Sports ...independent online guides since 1995 |
Renters Insurance - Why It's Important to Get:If you are a renter, it is important to realize that although your landlord has insurance, it will not cover you if anything goes wrong. Renters insurance is often referred to as a HO-4 policy. It can cover you for a wide variety of events that you may have not thought of, including fire and lightning, hail, explosions, smoke damage, volcanoes and falling objects. Renters insurance will also cover more common issues such as theft and vandalism. Also if you ever happen to have water damage from your home's utilities, renters insurance will cover that as well. Among the list of bad things that can happen, you may notice that floods and earthquakes aren't on the list. If you are worried about floods and earthquakes, you will actually have to get a separate rider on your renter's insurance policy. The same thing holds true for people in areas that are frequently hit by hurricanes. Here is a short video about the importance of renters insurance (http://www.youtube.com/watch?v=lMB2GOuPWW0).
Renters Insurance and Liability:A major advantage to renters insurance is that it covers you for liability. Lets say that you have a waterbed and it breaks and causes water damage to someone in another apartment. Renters insurance will cover your bed, and they will also cover the costs of the damages to the other person. (However, keep in mind that with this particular example of the waterbed, you may need a separate waterbed liability provision.) Renters insurance liability coverage will also help you if someone trips and falls in your apartment and then sues you for damages. Sure, this may be highly unlikely, but it doesn't hurt to be covered in case it does. Also liability protection means that the insurance company would cover anything the other person won in court. It would also cover your legal expenses.
Who Needs Renters Insurance? - How Much is Renters Insurance?:If you are renting your home or an apartment, and you have valuable items, it is definitely recommended to get renters insurance. In general, renters insurance costs about $150-$300 per year. Most people find that this cost is well worth it for the peace of mind to know that their items are covered. For this rate, you will get up to $35,000 worth of coverage for your items. This also includes liability protection that can go up to $300,000. Now if you have items that are extremely pricey, you may need to get a separate rider. When you first get your renters insurance, talk to your agent about these items whether they are jewelry, clothes, electronics, etc.Renters Insurance Companies - So which are the best renters insurance companies? The top renters insurance companies include State Farm, Allstate, Nationwide, Geico, Travelers and Liberty Mutual. Many of these companies will let you get an instant quote online. You will just need to answer a few basic questions about your living situation and how much your stuff is worth. You can also call the offices of these companies to get more information and a quick quote. If is fairly easy to find inexpensive rental insurance. Since many companies offer this kind of coverage, they have to compete for your business. You may even be able to save money if you bundle your renters insurance with your healthcare insurance or life policy.
Do you have a quality site or product that belongs in this guide? We are always happy to evaluate or review new products and websites. Feel free to contact us at the email address below and let us know about you. If you have a demo product you'd like us to look at, please contact us before sending anything. Thank you.
Send email to: galtemail (@) yahoo.com
|
