Cheap Renters Insurance - Don't Forget To Get Some
So you've done all the right things and you're covered on your cheap auto
insurance and your cheap motorcycle insurance but, if you reside in rental accomodation, how about cheap renters insurance.
Don't be fooled by the fact that your landlord has insurance. That insurance may cover the building and provide liability protection in the common areas, but don't think it extends to your apartment. The fact is that you're not protected. Landlords insurance covers the building but not any of the belongings that you own. So, if you have a fire, anything that you own in the apartment you are leasing that gets damaged is your problem, not the landlords. Luckily, insurance companies recognize that this is a lucrative market and there are lots of options available to the majority of renters.
The trick of course is making sure that, not only do you get insurance but that you get cheap renters insurance. How can you do this? Understanding what exactly is renters insurance is a great place to start. Any of your possessions that are within the rented accomodation is what gets covered by renters insurance. You are therefore protected against any loss by way of fire, theft, flood, etc... You can also get liability coverage in case someone hurts themselves whilst in your apartment.
But how much coverage should you get. Since this protection is only for you, and not the landlord, begin by making a list of everything you own. Take special note of any particularly valuable pieces like jewelry. Once you've added up the total expense of replacing all of "your important things" you now know the level of coverage you ought to be looking for. Needless to say, keep track of any changes so as to modify your cover as needed.
Now that you know what you need it's a straightforward matter to get comparison quotes online from all the major insurance firms and compare them to find the best price. On some sites you may even do the comparisons side-by-side so you can easily see what is being offered and at what cost.
Having gotten your comparison quotes why not also ask your present provider of auto and motorcycle insurance to provide a quote. By combining all of your policies with one firm you can often get better pricing.
Finally, as with all insurance coverage there are some things you can do to improve your chances of obtaining cheap renters insurance.
Along with combining with other policies always ask if there are any age related discounts that you might qualify for. Also, check out the price using various deductibles. If you are able to afford a higher deductible it is possible to significantly reduce the cost of your insurance. Furthermore, check around with other people in your building to determine where they are getting their insurance. Get together with them and you might be in a position to negotiate a better deal for everybody.
Cheap renters insurance is crucial to protect your financial well being and it's not too challenging to get. Do your research then comparison shop on the web and very quickly you will have the coverage you need for peace of mind.
by: Gerry Lalonde
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