Renter's Insurance

flip_it_fast · #1 01-01-2010, 01:09 AM

If you are renting your home or apartment it is important that you obtain what is called renter's insurance. Just because the property owner has insurance, your items inside of the home are not covered in most instances. It is up to you to obtain the coverage that you need so that if something happened, such as a fire, your personal property is covered.

Here are some tips to save you money on your renter's insurance.

1. Obtain your renter's insurance threough the same company that carries your car insurance. They will usually offer you a discount for doing this.

2. You can also raise your renter's insurance deductable which will lower your insurance bill.

3. Installing burglar alarms and smoke alarms will make your apartment or house less of an insurance risk which will be reflected on your bill.

4. If you have a non-smoking household be sure to notify the insurance company. They can give you a deduction for that.

5. If you allow EFT payments and do paperless billing you can get a discount for that as well.

Renter's insurance is a must and it can be quite affordable if you follow these tips.

homealone · #2 01-01-2010, 03:48 PM

For many years I have rented. One thing that I always did was get renters insurance because you just never know what is, could or will happen at any given time.

I took detailed pictures of everything that I owned and of course kept reciepts as well. These were copied and given to the insurance company and a copy was given to family and I also carried a copy of everything in my car as well. This was to make sure that if something happened I would always have a copy of everything I needed just in case something happened.

It sounds like a bit of over kill but when you need it and dont have it, alot of complications can happen!!

Eyeofngt · #3 01-04-2010, 02:53 AM

Like I have said before on this subject, make sure when you get renters insurance that you get replacement cost. If not if anything happens they will depreciate everything and I do mean everyting,and you will end up losing!

homealone · #4 01-04-2010, 05:08 AM

So true, insurance companies just like any other company is more than happy to take your money, but then will do all that they can to make sure that they keep it rather then helping you out when you need it the most.

luv2flip · #5 01-06-2010, 01:51 PM

Yes if you are a renter, you need this the landlord is not responsible, for your belongings.You are so if you want to replace your stuff if something bad happens you will need some type of Renter's Insurance..

I had a fire 9 years ago, it was a good thing I had insurance, or I do not know what we would of done, it paid for most things to be replaced, and put us up in a hotel for a short time that sure helped with 3 kids, it it was during Christmas season.

flip_it_fast · #6 01-16-2010, 03:54 PM

A friend of ours was renting half of a duplex when the house next door caught on fire. Both places were burnt clear down to the ground. A car parked in the driveway was burnt to a crisp as well. The owner of the duplex had insurance but my friends did not. They lost everything and nothing was covered. It was really sad.

homealone · #7 01-16-2010, 11:01 PM

Sorry to hear about your friends Flip_it_fast. I hope that they have or are managing to rebuild their lives. It must be horrible to lose everything that you own and hold dear in life. I have been there myself so I know that feeling all to well.

This is why I always make sure that what I own is covered by insurance and know that if anything is lost, it will be replaced so that my life can carry on with out the hassle of trying and worrying about replacing what was lost.