If you’re renting a home or apartment, it’s always a good idea to have renters insurance. Not only does it protect your personal belongings, but it also provides financial coverage if you cause damage to someone else’s property or if someone is injured in your rented home.Big Boss vote
Big Boss voteMyna nandhini
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Saturday, December 21, 2019
Damage caused by floods and earthquakes
Damage caused by floods and earthquakes: Most policies don’t protect your belongings against floods or earthquakes. If you need protection for these types of events, you can purchase it separately from specialty vendors or add it to your existing policy. Add-on policies are standard in earthquake-prone areas like California.
If you rent a home or apartment instead of owning
cs: If you rent a home or apartment instead of owning, you’re more vulnerable if something catastrophic happens to the property. Fortunately, renters insurance provides coverage if a natural disaster destroys your abode and you need to move elsewhere temporarily. In some renters insurance policies, you are protected against additional living expenses that you would not ordinarily need to pay, such as hotel bills, restaurant meals and other costs associated with being displaced.
Liability protection:
Many people associate renters insurance with the protection of their personal belongings but don’t realize that it also covers accidental damage done to someone else’s property. That’s where liability coverage comes into play — and it covers damage caused by you, your family and your pets. For instance, if your dog accidentally chews up your neighbor’s antique rug, your renters insurance policy should cover the costs. Liability protection also kicks in to cover medical bills if someone hurts themselves in your rented home.
Your personal property
Your personal property: At the basic level, renters insurance should cover your personal items, including clothing, furniture, musical instruments and electronics in the case of theft, fire, vandalism or other unpredictable circumstances. When you buy renters insurance, you should complete a home inventory. To do this, list all of the belongings that need to be covered, along with their monetary value. This list is essential in claiming money back if your property is damaged or stolen.
Myth: Renters insurance covers building
Myth: Renters insurance covers building damage caused by a natural disaster. Reality: It may seem like renters insurance should cover damage to your building caused by lightning, smoke or other natural causes. In reality, your landlord’s insurance covers this type of destruction, so you don’t have to worry about it when choosing a policy.
Myth: Everything you own will be covered, with no limits
Myth: Everything you own will be covered, with no limits. Reality: While renters insurance covers your personal property in case of theft or most natural disasters, you’re limited on how much money you can get back per category. For example, if you own lots of expensive jewelry, you may find that your renters insurance policy caps the jewelry payout at an amount that is less than the value of what you own. In this case, you’ll need to purchase additional insurance to cover your collection.
Myth: Renters insurance covers damage you cause to your home or apartment
Myth: Renters insurance covers damage you cause to your home or apartment. Reality: Just because you have a renters insurance policy doesn’t mean you can throw a wild party and allow guests to destroy your home. If you cause damage to the property, you’ll be liable for that when you move out.
e’ll clear up several myths
e’ll clear up several myths about renters insurance and outline what it covers and what it doesn’t cover. We’ll also share what you should keep in mind before deciding to purchase a renters insurance policy. Read on to learn the basics of renters insurance and the key points to understand if you’re considering buying a policy.
Why don’t more renters have insurance?
Why don’t more renters have insurance? Part of the challenge stems from confusion around the term “renters insurance.” It can be hard to understand precisely what is covered under renters insurance, so some renters avoid the concept altogether.
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If you’re renting a home or apartment,
If you’re renting a home or apartment, it’s always a good idea to have renters insurance. Not only does it protect your personal belongings...
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If you’re renting a home or apartment, it’s always a good idea to have renters insurance. Not only does it protect your personal belongings...
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cs: If you rent a home or apartment instead of owning, you’re more vulnerable if something catastrophic happens to the property. Fortunate...
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Damage caused by floods and earthquakes: Most policies don’t protect your belongings against floods or earthquakes. If you need protection...