Renters Insurance

Posted by Nick Niesen on October 29th, 2010

There is nothing difficult about the subject of rental insurance but it is something that can affect anyone that has rented equipment in the past even a house, apartment or anything that does not belong to them but could still become damaged. If you don't have renters insurance then you could be liable for the replacement costs and any extra damages.

For instance, if you don't own your own home, and are renting instead, you may think that you're covered by your landlord's insurance policy. The fact is, though, that you're not; a landlord's property insurance covers damage to the structure of the property itself.

To cover the replacement costs of property that is damaged or stolen it is renters insurance that the occupants need unless they can afford to pay out of their own pocket. You may be liable for any damage done to the apartment or house you're renting as a result of fire due to your negligence.

Renter's insurance has another benefit which you may not have considered. If someone is hurt or injured while on the property you are renting, you may be legally responsible for that person's medical expenses, not mention attorney fees if there's a dispute. This means you are covered for that person's medical expenses, legal costs if they should decide to sue, and any damages they might be awarded.

Although some people are covered when they rent a car, this is not always the case so if your auto insurance doesn?t have this facility as part of the cover, you will need to arrange this yourself unless your credit card provides auto rental insurance cover. For the cover it supplies, collision damage waiver is not expensive at anywhere between 7 to 13 dollars per day which you have to admit is a lot less than the cost of a brand new can that may need to be replaced.

Only two areas of renters insurance has been covered here but it can be obtained for just about anything that you rent and it doesn?t matter if you are renting a motor home to a luxury yacht. Renters insurance provides a peace of mind and that has got to be worth a few dollars a day, whoever you are. Renters insurance costs can vary as your location will be taken into account just as any additional personal items you may want to add to it for example plus the amount of the deductible organized. 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.