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A lot of people think if they don't own their home, they don't need insurance. They assume they are covered by the owner's insurance. Most of the time this isn't the case. That's why renter's insurance is an important thing to consider when you decide to rent an apartment of house.Having renter's insurance can protect you if something should happen to where you live and it's decided that it's your fault. Even an accidental fire that damages a small part of a kitchen can cost hundreds or even thousands of dollars and you are responsible to pay that if you are found at fault. Most leases that you sign will state this. If you don't have insurance, this means you will have to pay out of pocket or risk being sued.
Besides providing protection for you from criminal and civil charges, having renter's insurance also protects you from the loss of your belongings. While it can't replace the loss of personal possessions that have sentimental value, it can provide the money needed to replace items.
Before purchasing renter's insurance, you need an estimate of what your belongings are worth. Include furniture, clothing, kitchenware, and other miscellaneous things such as towels and personal items. You will want to value them at the current cost, not what you paid for them. If you have to replace them, it will be at the current prices and you don't want to end up not having enough money if you should have a total loss.
You can go to most home insurance companies to buy renter's insurance. The cost is minimal unless you have special items. Because it's so cheap, you would be better getting more insurance than you need rather than less.
If you should need to file a claim, the adjuster will estimate the portion of loss unless it is a small claim where it's obvious what needs to be replaced. They will give you a check for the percentage of loss that you sustained.
Another aspect of renter's insurance is the liability they cover if someone should get injured at your home. While your landlord's insurance may cover that in some instances, there are times you would be liable. For instance, if you have a dog that bites someone, you would be responsible.
Renter's insurance provides more than just money to the client; they can provide peace of mind.
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What kind of insurance should you ask your tenant to carry?
Renters insurance .
What is the percentage on renters that actually get renters insurance?
About thirty percent get renters insurance. Renters insurance should be the top priority of any renter however. It helps just in case a strom, or anything else does damage to the place one is renting.
How many renters insurance quotes should you compare before making a decision?
You should compare at least 2-5 renters insurance quotes before making a decision. The reason is that comparing is good. It allows you to see the differences between renters insurance quotes.
Do renters need homeowners insurance?
NO, But they can get Renters or Tenants insurance
Do renters need home content insurance?
By practical means, yes, renters should have home content insurance. You will want to have coverage for your home if anything disastrous was to occur.
Can you rental insurance with a pool on property?
Yes, you should have no issue getting renters insurance with a pool on the property.
What is the best renters insurance for a college student?
There are many companies that offer renters insurance. The best place to purchase renters insurance will depend on your location and individual situation. Some of the top rated renters insurance companies are Travelers Insurance, State Farm, Liberty Mutual, and Farmers Insurance.
What is Broad Form insurance for renters?
Multi Peril Renters Insurance policy...Coverage for your stuff.
How much does the average renters insurance cost in PA?
In the average rates for renters insurance, auto insurance, and home insurance, Pennsylvania is usually lower! In 2007, the average rate for PA renters insurance was only $144!
How can I get great renters insurance?
You can get great renters insurance at the following sites...www.geico.com Get a Quote or personalinsure.about.com/od/renters/a/aa021107a.htm good luck
Which kind of renters insurance are recommended for older people with a house?
If your parents bought their house they do not need renters insurance but they do need house insurance. They should insure the house for two things, one for the contents and any damage to the home, and two if there is a mortgage they should have insurance to cover that in the event that anything should happen to either of them.
Does Farmers insurance offer inexpensive renters insurance?
Yes, Farmer does offer renters insurance. Most renters insurance is very inexpensive, you can receive an estimate by answering some simple question on Farmer's website.
