Hi, my name is Brian Stevens. I am a former insurance agent and financial consultant and I want to explain the basic of renters insurance in simple terms, plus how to get cheap renters insurance.
Natural disasters like floods and hurricanes are on the rise. Theft and vandalism are increasing. And if you do not have renter’s insurance, you could lose everything you own. Many renters think their landlords insurance will cover damages to their personal possessions, but it would not. Your landlord’s insurance only covers the building you live in.
Renter’s insurance provides three basic areas of coverage. First, personal property coverage pays to replace your possessions when they are damaged by fire, vandalism and storms when they are stolen. Second, this coverage pays your hotel and restaurant bills when your residence is being repaired either damaged by fire, vandalism, or storms and you need temporary living quarters.
And third, personal liability coverage pays for another person’s medical bills and property repair bills when you, your family or your pet are found responsible for injuring them or damaging your property. It also covers your legal fees if you are sued. Renters insurance does not cover damage caused by earthquakes or flooding. There are also limits on expensive items like jewelry, antiques and computers.
If you live in an earthquake of flood zone or have expensive items that are not fully covered. You can purchase additional insurance. You need enough personal property coverage to pay for all your possessions if they are destroyed, an enough liability coverage to cover all your assets if you are sued. Take an inventory of your possessions and use the total value as your coverage amount, then tone your assets, bank account, stock, bonds, CDs, etcetera and make sure you have enough coverage to protect them
Renters insurance is cheap, it can cost as little as $16.00 a month for $20,000.00 worth of personal property coverage with $300,000.00 liability coverage. That is less than a cost of a CD to ensure all you’re your personal property and all your assets.
The best way to get cheap renters insurance is a comparison shop and the easiest way to do that is to get quotes from an insurance comparison website. It is quick, it is easy and it’s free. Visit loeweratequotes.com to get renters insurance quotes from top rated companies and see how much you can save. You can get more insurance tips in their article section and get answers to your questions, plus get advice on how to lower you r premium from an insurance expert by using their online chat service.
To visit this site, just enter lowerratequotes.com in your internet browser.
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