Courtesy of iii.org RENTERS INSURANCE If you rent, rather than own, your home, have you bought renters insurance? While your landlord may provide insurance coverage for the structure of your home, as a renter you are responsible for your own belongings. Renters insurance covers the loss or destruction of your possessions if they are damaged by a hurricane or other disaster listed in the policy. A standard renters insurance policy also includes ALE coverage if you are unable to live in your house or apartment due to damage caused by a hurricane. Flood insurance is also available for renters. However, as for homeowners, the NFIP flood insurance policies for renters do not include ALE coverage. Don’t wait to review and update your insurance until after you have a loss—there are few things worse than finding out you did not have the right kind of coverage when you are already filing a claim. So before hurricane season kicks off, make sure you’ve reviewed home or renters …
Renters Insurance
Why Don’t You Have Renters Insurance?
Courtesy of iii.org Hey guys, I know you’re busy having fun watching football, but it’s time for us to have a talk about renters insurance. Why? Because the I.I.I. found that only 37 percent of renters have renters insurance. Which is bad, because renters insurance is important and good. One of the most important things renters insurance covers is damage to your personal property. Your landlord’s insurance probably doesn’t cover any of your personal belongings if a covered loss happens to the apartment. (Covered losses usually include fire, water damage from an overflowing sink, theft, vandalism, and a few other things. But be sure to talk to an agent and read your policy because different companies often vary in their wording.) It’s important because you own things The first objection I often hear about renters insurance is “Lucian, I don’t need it because I don’t own a lot of stuff.” Yes, we’re all about minimalist Instagram chic in theory. But in practice, we own a …
Renter’s Insurance Guide 2018
Courtesy of iii.org If you rent a house or apartment and experience a fire or other disaster, your landlord’s insurance will only cover the costs of repairing the building. To financially protect yourself you will need to buy renters or tenants insurance. Renters insurance protections Like homeowners insurance, renters insurance includes three key types of financial protection: Coverage for personal possessions Liability protection Additional living expenses (ALE) The big difference is that renters insurance doesn't cover the building or structure of the apartmentthat's the landlord's responsibility. The following questions will help you choose the right coverage when you are shopping around for renters insurance or discussing your needs with an insurance professional. Coverage for personal possessions Coverage for your personal property is a key component of renters coverage, protecting you from theft, fire and a host of other unfortunate events. 1. …