Basic Information about Renters Insurance

Renters Insurance

The scenario is simple: you decide to rent a house or apartment, hand over a deposit, and receive the keys. You move your items in, arrange them, and pay your rent (and utilities) monthly. But what happens when your apartment becomes damaged in a flood or fire, if someone breaks in and steals your things, or if a friend or other visitor trips, falls and ends up in the hospital? Moving into a rented apartment or house is easy. The tricky part involves protecting your belongings (among other things) from…

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The Average Monthly Cost of Renters Insurance

Renters Insurance

If you are a tenant, it is imperative that you invest in renters insurance  to protect your personal property. While the landlord does carry insurance  to cover the property, renters insurance is designed to cover potential claims that can affect you as a tenant. Personal property, loss of use, and liability coverage are the most common coverage options offered by a renter’s insurance contract. If you understand what these specialized property insurance contracts cover and how much you can expect to pay for coverage, you will get peace of mind…

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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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Why Renters Insurance Is a Necessity

Renters insurance

When you rent a place to live, it is necessary to understand that the property insurance that your property owner has, does not cover your personal assets and belongings – This is where renters insurance steps in. Therefore, it is always advisable that you take out renters insurance before moving in. As a tenant, you may find this type of insurance necessary when you are going to share spaces with other tenants, the place is a temporary housing facility, has shared bathrooms or kitchens with the owner’s family, or the…

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Renters insurance purchased by less than half of tenants

Renters Insurance

Though people who rent their homes are aware of the risks, less than 50 percent buy coverage. The data from the U.S. Census Bureau, in combination with a renters insurance survey performed by Allstate, has shown that only 45 percent of tenants have purchased coverage. Still, tenants have a fear that fire will destroy their possessions. Moreover, 54 percent of the survey respondents indicated that it would take a minimum of three years to replace their possessions if they should ever be lost to a fire or other disaster. Though…

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Middletown Common Council chambers hear strong opposition to dog insurance proposal

Pet insurance liability issue grows in Middleton The Middletown Common Council chambers were filled to the limit on April 3, when, one after the next, individuals representing themselves or various organizations spoke up against a proposed law that would force renters to obtain insurance if they own a dog that weighs over 50 pounds. The opposition to the proposal was very strong and brought up a number of different objections to it. Among them, for example, were that it would cause landlords to be less accepting of tenants who own dogs.…

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Do your possessions in storage require insurance coverage?

No matter where you may be keeping your belongings – whether it’s in your parents basement or garage, or in a public storage unit – making sure that you have the proper insurance coverage for those items should be considered a necessity if they are of any financial value or if it would cost money to replace them. The Insurance Information Institute recommends that if an item is worth paying for its storage, then it is worth the cost of its coverage. The first thing that you should do is…

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What type of insurance coverage should a college student consider?

If your child is already in college, or will be headed there within the next few months or years, then you may want to begin thinking about the different types of insurance coverage that may be important for him or her during this first time away from home. The odds are that he or she will remain free if incident throughout the entire time at college, but just in case some of those close calls go awry, it is best to be protected. The following are some of the types…

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Smart renters purchase insurance coverage

Last year came with a wide range of tremendous disasters ranging from extreme weather to tornadoes, which brought the importance of insurance coverage to the attention of many renters who didn’t think that they needed this protection. Unfortunately, all too many renters discovered that they were wrong when they assumed that their landlords’ policies would cover them, as well. The reality, though, is that the landlords’ policies extend only to the protection of the building itself, and not the contents of the units. Renters’ insurance, also known as contents insurance,…

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Is renter’s insurance necessary or a luxury for students living away from home?

The back-to-school season is upon us and college students across the country are moving into their new homes for the coming school year; a process that involves expensive personal possessions, such as computers, electronics, bicycles, clothing, and other personal items that would be costly to replace though they are highly prone to damage or theft. While some students already have protection through their parents’ homeowners insurance, many policies will not cover students who aren’t living on campus. That said, many tenants fail to realize that their property is not covered…

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