Understanding Renter’s Insurance

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Brehm and Dobson Insurance BrehmandDobson.com Understanding Renter’s Insurance If you aren?t a homeowner, chances are you?re probably renting and the place in which you live is covered by an insurance policy that your landlord owns.

Published : Wednesday, January 08, 2014
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Brehm and Dobson Insurance BrehmandDobson.com
Understanding Renter’s Insurance
If you aren?t a homeowner, chances are you?re probably renting and the place in which you live is covered
by an insurance policy that your landlord owns. However, just because the landlord has insurance does not
mean that you as a tenant are without cause for concern. You may not own the property and be the one
responsible for worrying about damage to the pipes or the roof, but you should still take into consideration
the well being of your personal property and belongings.
One of the main reasons a renter might secure Waterford insurance in the form of renter?s insurance is to
protect themselves from liability issues. Every time someone visits your home there is a chance for injury.
Additionally, there?s always the chance that any visitor to your home might suffer damage to any of their
personal property that they might bring into your home. The insurance policy that your landlord has secured
to protect the property itself does not cover these problems, but renter?s insurance would.
Renter?s insurance is intended to protect your valuables as a renter. Though any damage caused by flooding
is not covered, other home emergencies should be covered in a typical renter?s insurance agreement which
will result in a helpful payoff to assist you in replacing anything of yours that has been permanently lost due
to damage or theft.
Another great benefit to getting Waterford insurance for renters is that a good policy might also cover items
that you own that you may remove from your home from time to time. A laptop, for example, that may get
stolen while you?re out can be replaced with the help of insurance.
A great aspect of renter?s insurance that many people don?t realize upfront is that it may help you as a
tenant to find a new place to live should something unexpected happen to your current apartment or rented
home. Sometimes an unexpected disaster might strike such as some broken pipes or other similar issues and
renter?s insurance can help put you in a comparable property for up to a year should the need arise.
Keep in mind that there are many types or renter?s insurance. There are certainly choices and varying price
ranges from low coverage amounts with a high deductible and so on. You may decide to just get a basic
insurance policy that covers your personal property and not much else or you may decide to play it safe and
also choose to get third party liability insurance. Some people even decide to get inflation coverage so that
ass the inflation rates change they are always adequately covered and protected.
There are some limitations on insurance coverage when it comes to the amount of money that you may be
able to get to replace high end items that are hard to replace. These types of items might be antiques,
computers, jewelry, or fine art. However, it may also be possible to get special riders to cover these kinds of
items. Take the time to really shop around and look into several insurance policies and options before you
choose one. Read the policy with care so that you are well informed on what is your responsibility, what is
covered, and what you can expect for the policy you choose. Speak with an insurance provider who can offer
you the proper guidance and insight into choosing the right policy.
Document Tags: homeowners insurance, insurance broker
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