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Renters And Automobile Insurance

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The Importance of Renters or Tenants Insurance

When you first move out on your own, you usually look for an apartment or a house to rent. It is an exciting time moving in with a buddy and have the freedom to basically do what you couldn’t do at home with the parents.

This will be a move that you will always remember and you should start out on the right foot to make it a happy memory for yourself.

Renters Insurance is available to all persons renting an apartment or house. However, it is a subject that is not always at the top of the the to do list as you prepare to move. Luckily for all, it is something landlords are requesting more and more these days, and require proof of Insurance prior to you moving in.

The landlords want their tenants to have this Insurance in case they cause a fire or do damage to the inside of the apartment. If you cause any type of damage and you have no    insurance, the person whose name is on the lease will be held responsible for all damages. It can get pretty pricey if you have caused a fire. The smoke damage will not only have caused damage to your apartment, but the others above or beside you.

This type of insurance covers you for fire, theft, contents away from the premises, and much more including coverage for liability. If someone who gets hurt while in your apartment, you will have the Insurance to pay for any medical costs.

There is also coverage for  damage  to the personal property of others. As an example, you spill red wine on your friends white rug, you would have the coverage to have it cleaned or replaced. This is one type of policy you need to cover anything stolen from your vehicle. It is also laying down an Insurance history which is so important down the road. When you decide to purchase home and need Home Insurance, there are huge discounts for a clean claims history.

The renters Insurance policy  is very cheap. You could probably get $30,000 contents coverage with a $1,000,000 Liability limit for less than $200. Another benefit to consider, you will get a discount on your automobile insurance policy for having two policies with the same Company.
Example: $2,000 Auto policy premium, less 10% for having a Renters or Tenants policy, that is $200 off your automobile policy which has now paid for the renters policy. The discount is also applied to the other policy, so now your Renters policy is now $180

Good to know!!


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