- Frugal Renters Insurance - 6 Updates
| Beaver_Fever@live.com: Jul 19 07:04PM -0700 My march into adulthood at the age of 40 something continues. I should probably get this. I really have no idea what to do. Thanks! |
| Bob F <bobnospam@gmail.com>: Jul 19 07:12PM -0700 > My march into adulthood at the age of 40 something continues. > I should probably get this. I really have no idea what to do. > Thanks! It's dirt cheap. Just check it out. |
| ItsJoan NotJoann <itsjoannotjoann@webtv.net>: Jul 19 11:35PM -0700 On Wednesday, July 19, 2017 at 9:17:44 PM UTC-5, Bob F wrote: > > I should probably get this. I really have no idea what to do. > > Thanks! > It's dirt cheap. Just check it out. I agree. Renters insurance is quite cheap and assuming he has a car and it's insured he should call his local agent. They might also be in the business of home owners as well as renters insurance. |
| Beaver_Fever@live.com: Jul 20 09:11AM -0700 On Wednesday, July 19, 2017 at 11:35:20 PM UTC-7, ItsJoan NotJoann wrote: > a car and it's insured he should call his local agent. They > might also be in the business of home owners as well as renters > insurance. I don't have a car. |
| ItsJoan NotJoann <itsjoannotjoann@webtv.net>: Jul 20 10:05AM -0700 > > might also be in the business of home owners as well as renters > > insurance. > I don't have a car. I guess that means you will be spending your time on the phone calling different agents in your area and asking if they sell renters insurance. Have pen and paper handy to write down their quotes. |
| BigDog811 <bigdog811@gmail.com>: Jul 20 02:31PM -0700 > My march into adulthood at the age of 40 something continues. > I should probably get this. I really have no idea what to do. > Thanks! Pretty straight forward. Most companies that offer homeowner's insurance also offer renter's policies. It's worth shopping around but you'll probably find the rates are consistent from one company to the next. Just make sure you're comparing apples to apples. Pay attention to: a. Deductible - How much to you want to pay out of pocket in case of a loss. Lower deductible means higher premiums. Sometimes disproportionately higher. b. Per claim limits - Most policies won't pay over a certain limit, even if you're totally wiped out. c. Per item limits - Most policies won't pay over a certain amount for items like jewelry, clothing, electronics, firearms, etc. If own something in a limited category you want covered for more, you'll have to declare it, prove you own it, and it's value. Of course, the premium goes up. d. Exclusions - Cash is usually excluded (you shouldn't keep more cash than you can afford to lose anyway). There will be others. e. Cash value vs. replacement value - People get confused about these. Cash value is the depreciated value of the item. Depending on what it is, and how old it is, it may be worth nothing from an insurance stand point. f. Liability - Most renter's policies, unlike homeowner's, don't cover liability for injuries and losses of other people's property in your home. That's one the reasons they're so cheap compared to homeowner's policies. Read the actual policy. Don't rely on an agent to explain things to you. They're written in plain english and very easy to understand. |
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