Renters insurance is a misunderstood subject which needs to
be explained as there are many occasions where we rent
equipment, marquis for a wedding, car or boat for instance;
all of which could be damaged or even completely destroyed.
Often people rent things with the false belief that some
other insurance plan they have will cover them.
Now many people believe that when they rent a property that
they are automatically covered on the insurance of the
landlord. Although the landlord will carry insurance, which
he must by law, the only requirement is for it to cover the
building structure in the vent of fire or damage for
example.
Of course, buildings insurance will not cover any personal
belongings or any liability on your part so if property is
lost or stolen, it is renters insurance that covers the
cost. Also, if it is provide that the damage was as a
result of negligence on the part of the tenants then they
will be liable for any costs incurred.
Renter's insurance has another benefit which you may not
have considered. Lawyers fees and medical costs will be the
renters responsibility if someone is injured owing to
negligence so this is a good way to prevent large costs
being incurred. This would be a problem for most people to
pay ordinarily but for a small premium per month this
particular aspect would no longer be of concern.
It is quite common for people to rent a car believing that
their own insurance will cover the costs if there is an
accident but this isn't always the case or if they do it
has limited conditions but a worthwhile check should be
carried out on the credit card you paid for the rental on
as this may cover the costs. After you have checked your
car insurance plus your credit card conditions and find
that they do not cover renters then taking out this type of
short term insurance will not break the bank at
approximately ten dollars or so per day it is far less
expensive than replacing a new car.
Of course there are many more areas where rental insurance
can be used even if you are renting sports equipment for a
vacation. Don't dismiss the decision to by renters
insurance; the peace of mind of knowing you're covered in
the event of a mishap is worth the small price of renters
insurance. Obviously like any insurance policy, the amount
will vary according to where you live, any extras you want
to add and how much deductible you decide to arrange. Take
a look around before you decide on what company to use and
try looking on the internet as discounts are often found
there and adjust the deductible amount until the insurance
premium is within your budget.
----------------------------------------------------
Keith Mallinson BscHons Provides Information on rental
insurance: what it is, how renters insurance works, and
where to find the best renters insurers online.
http://www.renters.insurance-llc.com
No comments:
Post a Comment