Tag: rental insurance

Renters insurance missing among 66 percent of tenants

Renters insurance

Two out of every three Americans who rent their home are risking all of their possessions. A recent study has just revealed that only 34 percent of American tenants currently have active renters insurance, which means that the majority of them are taking a gamble with all of their belongings should they ever experience a fire, burglary, or other peril that is typically covered by the policy. Among the most commonly cited reasons that those without coverage gave was cost. However, at the same time that tenants were saying that…

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Renters insurance in North Carolina to increase 13.2 percent

Renters insurance

Rates for homeowners policies will not be affected by this change. North Carolina’s Commissioner Wayne Goodwin has announced that he is stepping away from his decision for slightly decreasing rates for rental insurance and other types of coverage for properties that are not occupied by their owners, due to a court battle declared by the industry. An out of court settlement has now been reached for the case between the industry and the Insurance Department. A compromise was reached in the settlement that fell between the 2.6 percent decrease in…

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Property maintenance neglect by landlords revealed in insurance claims

Simply Business, the biggest business and landlord insurance broker in the United Kingdom, has released data that showed that landlords’ tightening budgets are starting to affect their ability to maintain their properties, and that the number of insurance claims made for avoidable issues such as burst pipes, leaks, damage do to frost, and problems relating to wear and tear have risen by 5 percent since 2008. This information was drawn from the claims made by more than 3,500 private landlords and indicated that the largest cause of claims is water…

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Understanding the basics of condo insurance

Marc

Condo owners, similar to owners of houses, can greatly benefit from the coverage provided by insurance that protects them from damage to their property, as well as from liability. Many condo owners do have questions about condo insurance, however, as it is slightly different from the typical homeowners policy. Though they remain quite similar, there are some ways in which they differ due to the nature of the condo itself. In order to find out what types of insurance are available to your condo, speak with an insurance provider. Many…

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