Is Rental Insurance More Costly Than Homeowners Insurance?
Most mortgage companies require homeowners to purchase insurance, but renters typically don't have to. You should, however; it's the only way to make sure your personal property is protected. It's significantly cheaper than homeowner insurance, so it makes a smaller dent in your wallet while still making sure you can replace your items in case of theft or a disaster.
What Rental Insurance Covers
In many ways, rental insurance is similar to homeowner's insurance. It covers your personal property, such as your furniture, clothing, jewelry, electronics and knicknacks, when they're stolen or damaged from disasters such as fire or flood. Rental policies typically include liability coverage as well, which protects you from lawsuits if other people get hurt in your home or their property gets damaged there.
How Homeowner's Insurance is Different
Homeowner's insurance covers your personal property in a similar way to rental insurance, although most policies don't include flood insurance like rental policies do -- you must purchase that separately at an additional expense. The main difference is that homeowner's insurance covers the structure of the home as well as your personal property. Rental insurance covers only personal property, not the building itself. The landlord must pay for insurance to cover the building, and his insurance won't cover your personal property.
Costs
Rental insurance costs much less than most homeowner's insurance plans -- there's no building to insure, so the total insured amount is less as well. According to a 2011 article by journalist Michael Koretzky, homeowner's insurance sometimes can cost about $500 more per year than rental insurance. You can usually pay rental insurance in monthly installments, which is not always the case with homeowner's insurance -- some companies require that it be paid in one or two payments per year, although it's sometimes escrowed in with your mortgage payment.
Discounts
Don't take the first quote given to you by your insurance company. Instead, ask for different ways to get a discounted rate on your rental insurance. Raising your deductible can cut back on the monthly rate, but you'll have to pay more out of pocket if you file a claim. Some insurance companies offer bundle discounts, charging less if you get auto insurance and rental insurance, for example. Safety features such as burglar alarms and smoke detectors might also lower your rates.
Auto Insurance Quotes - Car Insurance Allstate Online Quote
www.allstate.comPayment & Billing Log In Contact Us ClaimsGet auto insurance quotes at Allstate.com. You're In Good Hands With Allstate. Allstate also offers insurance for your home, motorcycle, RV, as well as financial ...
GEICO Auto insurance - Saving people money on more than
www.geico.comManage Your Policy Make a Payment Get a Quote Contact Us AutoGEICO, Government Employees Insurance Company, has been providing affordable auto insurance since 1936. You can trust GEICO to offer low car insurance rates.
Renters Insurance Network 877-99-RATES Serving all 50 States
www.rentersinsurance.netProtect your valuable belongings with low cost renters insurance. Compare renters insurance quotes from multiple companies and save!
Homeowners Insurance - Insurance - State Farm
www.statefarm.com InsuranceProtect your home with home insurance from State Farm. Learn what comes with your homeowners insurance to protect your belongings from disasters.
Get Insurance Quotes Save on Auto Insurance State Farm
www.statefarm.comLog In Find an Agent Claims Center Contact Payment OptionsState Farm offers more discounts to more drivers than any other insurance company. Get free insurance quotes today and see how you can save on auto, home, and more.
Car Insurance Comparison Auto Insurance Quotes Insurance
www.insurance.comFor affordable rates on auto, home, life, health and other insurance coverage, turn to Insurance.com. Easily compare rates from top companies with a single ...
InsWeb - Insurance Quotes Online: Auto, Home, Health, Term Life ...
www.insweb.comCompare insurance quotes online at InsWeb. Find cheap rates on auto, home, health, term life, renters and business insurance. Save money every month.
Renters insurance Quotes & Tools - Allstate Insurance Made Simple
www.allstate.com Renters InsuranceLooking for a renters insurance quote? Guess no more! Check out the new app from Allstate, a quick, fun way to see what you've accumulated over the years.
American Family Insurance Quotes for Auto, Home, Life and More
www.amfam.comPay Now Log-in Insurance Agent Locator Contact Us Get a QuoteOffering Business and Personal Insurance coverage options for your home, office, autos and life. Let us protect the dreams youve worked so hard to achieve.
InsureMe - Free Insurance Quotes Auto, Homeowners, Life and ...
www.insureme.comGet Insurance Quotes from InsureMe. Specializing in health insurance, auto insurance, homeowners insurance, life insurance and long-term care insurance.
0 komentar
Posting Komentar