Renters Insurance Quote

Renters insurance quote is important for making sure your personal possessions are protected in the event of an unfortunate accident.  Such as a flood, fire, theft or other natural disasters.  Tragedy seems to strike when you least expect it and it's very important that you protect yourself from extra financial stress.  If you don't have renters insurance, you will end up having to pay for everything you have lost, as a result of an accident, all by yourself.  Can you afford that?

Unfortunately most people opt not to get rental insurance coverage because they assume their landlord has some.  Yes, your landlord will have insurance but it's not likely to cover your belongings in the event of a disaster.  Because of this thinking, some people end up losing everything.

Another fallacy is that people think renters insurance is really expensive, when in fact it isn't.  This type of insurance is very affordable and a small price to pay for a piece of mind. 

A renters insurance quote is important for making sure you are getting the best policy you can for your money.

Discounts - There are various ways you can save on your monthly premiums for rental insurance.  One way is to opt for a higher deductible.  This will lower your monthly rate somewhat.  As well, if you combine all of your insurance needs under one roof, you will often save money.  Most insurance companies will offer a set discount if you do this.

As well, you should check with your employer or Human Resources Department about a group policy.  Often insurance companies will offer a great rate to companies that allow that insurance brand to specifically take care of all their needs.  You can save even more if you have your insurance cost deducted right from your pay check.  This is a little extra security for the insurance company, knowing they will get their payment.

Something else you may want to watch for is some type of bonus if you don't use your policy after a certain number of years.  You can be rewarded for not having a tragedy occur.  Nobody wishes anybody to have their possessions destroyed or damaged, get a renters insurance quote and make sure this doesn't happen to you.

With that said, here are a few of the basic coverages included in rental insurance:

Contents

  • All-risk coverage - makes sure you are protected for most of your belongings if a tragedy occurs.  With all-risk coverage, your possessions are completely covered, unless of course it is not mentioned in your rental insurance policy.  When you are looking through your renters insurance quote, make sure you look for this.
  • Named-Perils protection - this covers a list of most of the normal items covered with your insurance.  They include water, fire and theft damage.  All of the specifics are listed in your policy as to what is covered.  Make sure you go through and understand all of them.
  • Normally a standard policy will give the ACV (actual cash value) to replace your possessions.  This takes depreciation into consideration.  Meaning that if you bought a kitchen table ten years ago, the insurance company would research how much kitchen tables cost ten years ago and give that amount of money to you.  This means that if you wanted to get the same table today, you would have to pay the difference. 

    A lot of people will add the RVO (replacement value option) to their policy.  This means that for any of the items you lose, the insurance company will pay for a brand new replacement.  So you don’t have to put any money towards a replacement.  Of course this option is going to cost you a little more because the insurance company now potentially liable for more money if you make a claim. A renters insurance quote will help you protect yourself, don't you think you deserve that?

    Factors Affecting Renters Insurance

    There are many factors affecting renters insurance rates.  For one your credit rating can influence your premium.  The insurance company knows they are not likely to have any hassles with you regarding payment, if you have a good credit rating.  If however you have a poor rating, the insurance company is taking a bit of risk in that you may decide to not be responsible with your financial obligations.

    Where you are renting is also important.  If you live in a high crime rate area, chances are your renters insurance is going to cost you more.  As well, if the property you are renting has had previous claims, your insurance will cost more.  This is a result of the increased risk the insurance company has for you making another claim.  They are out to make money, not have you cost them.

    A renters insurance quote is a great start to getting rental insurance.  You deserve to be protected and have a peace of mind.  Get your quote today and stop worrying!

     

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