Renter's Insurance: Do I Need It?
Renter's Insurance: Do I Need It?
August 2004 (Newstream) -- If you are renting a home or apartment, and something happens to your belongings, it is up to your landlord's insurance policy to cover them, right? Wrong! That misconception could leave you empty handed and unprotected if the unthinkable occurs, which is why it is important to get renter's insurance.
A recent poll by the Independent Insurance Agents & Brokers of America found that two thirds of renters in the U.S. choose not to purchase renter's insurance - often under the belief that it's the landlord's responsibility. So, what kind of protection should you get to protect your property?
The average renter's insurance policy only covers your personal property within policy limits but many have provisions to cover additional living expenses if you're forced to stay elsewhere. So make sure you check your policy.
Once you purchase a renter's policy, take an inventory of all your belongings - furniture, electronics, even your clothes. A photo or video log will show your insurer all the belongings that were lost. Store your inventory somewhere safe outside your home and update it as needed. Also, be sure to discuss additional coverage options with your agency if you have any recent major purchases.
Possessions aren't any less valuable just because they belong to someone who rents. Even if you're on a tight budget it's important to purchase some level of protection for your belongings. Most renter's insurance is fairly inexpensive and will no doubt be cheaper than replacing all of the items lost if your home or apartment is damaged.
---------------
Produced for Allstate
August 2004 (Newstream) -- If you are renting a home or apartment, and something happens to your belongings, it is up to your landlord's insurance policy to cover them, right? Wrong! That misconception could leave you empty handed and unprotected if the unthinkable occurs, which is why it is important to get renter's insurance.
A recent poll by the Independent Insurance Agents & Brokers of America found that two thirds of renters in the U.S. choose not to purchase renter's insurance - often under the belief that it's the landlord's responsibility. So, what kind of protection should you get to protect your property?
The average renter's insurance policy only covers your personal property within policy limits but many have provisions to cover additional living expenses if you're forced to stay elsewhere. So make sure you check your policy.
Once you purchase a renter's policy, take an inventory of all your belongings - furniture, electronics, even your clothes. A photo or video log will show your insurer all the belongings that were lost. Store your inventory somewhere safe outside your home and update it as needed. Also, be sure to discuss additional coverage options with your agency if you have any recent major purchases.
Possessions aren't any less valuable just because they belong to someone who rents. Even if you're on a tight budget it's important to purchase some level of protection for your belongings. Most renter's insurance is fairly inexpensive and will no doubt be cheaper than replacing all of the items lost if your home or apartment is damaged.
---------------
Produced for Allstate
0 Comments:
Post a Comment
<< Home