Renters insurance is more or less standard from one carrier to another. You can go to carriers such as Allstate, Nationwide, and Liberty Mutual to get a policy. You can also look at ratings and reviews on such sites as ValuePenguin and J.D. Powers. To help you find the right policy whether you’re a first-time renter, a longtime tenant, or a downsizing homeowner entering the rental market, consider these suggestions: Understand what the policy covers. When you have a renters policy, an insurer typically pays for damage to your personal property, the cost of staying elsewhere if your place is inhabitable (say, from smoke damage), and accidents for which you might be legally liable—for...
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An Overview of Renter’s Insurance Renters sometimes overlook the need for insurance based on the belief that they may not have a significant amount of personal possessions, or because the property is already insured by the owner. While it is true that a rental property is insured by the owner, the destruction or loss of your personal belongings is not. But, that’s not the only risk renters need to worry about. The typical renter’s insurance policy will cover your possessions against losses arising from fire, smoke, lightening, theft, vandalism, explosion, wind storm, and water damage (excluding floods). Even if you don’t believe that the value of your personal possessions...
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As a finance writer, I am surrounded by people who know a lot about managing money. But even those with the most money know-how can still miss financial must-haves. For instance, in a recent conversation, a few of my coworkers stated they didn’t have renters insurance. This puts them among the 59% of renters who don’t have renters insurance, according to a poll from the Insurance Information Institute. On the other hand, 95% of homeowners carry homeowners insurance. Granted, renting comes with fewer property responsibilities than owning. But don’t assume you can skip insurance for your home simply because you’re leasing it. Go without it and you’ll expose yourself to some major risks. See...
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You may have health, auto, and life insurance, but do you have renter’s insurance? What exactly does renter’s insurance cover, and do you need it? If you’re an apartment dweller who doesn’t have a renter’s insurance policy, you’re living dangerously. All of your personal belongings are at risk if you don’t have this critical coverage. What Is Renter’s Insurance? Auto insurance covers your car or truck, homeowners insurance covers your home, and renter’s insurance covers your personal belongings. People often forego renter’s insurance because they think the landlord’s insurance will cover their property. But that isn’t...
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Renters Insurance in Pennsylvania What is renters insurance? What's covered? In Pennsylvania, renters insurance is essential. A solid renters insurance policy protects you from being held responsible for damages created by fire flood, acts of God, burglary, vandalism, and other unfortunate scenarios. A renters insurance policy in Wilkes-Barre, PA will also protect you in the case that your belongings (jewelry, laptop, family heirlooms, valuable furniture, or tech equipment) are stolen. Your policy will allow you to be reimbursed for your personal items that have been damaged or taken from you. This is essential when it comes to a devastating loss. Renters insurance will help you to pick up...
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“Renters insurance a life savior of Home Insurance” Being a landlord is not an easy task. From finding the right tenants to maintaining your property, you need to handle all the tasks in an efficient manner. The foremost thing is to protect your property from accidents, fire, harsh weather conditions etc. That is why having a renters insurance is important. Make sure you choose a reputed insurance provider who can cater to all your insurance needs. Whether you are a novice landlord or have years of experience renting your property, you should know certain things. Consider landlord insurance coverage Make sure your home insurance policy includes landlord coverage. It helps in...
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More Americans rent their homes than at any point since the mid-60's. In the wake of recession, wage stagnation and student debt, the number of renters across the country has soared, and at this point more than 43 million households rent. Student debt is a particular factor here given that, like so many economic concerns, this issue is generational. Approximately two-thirds of millennial households rent compared to 21% of their parents. While a full discussion of this subject will have to wait for another article, let there be no mistake: Millennials are getting hosed. We owe more than $1.5 trillion in high-interest student debt, while our parents could make tuition waiting...
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The growing number of people who prefer renting to owning a home is a trend with no signs of slowing down. If you're one of these millions, you may be required to add renters insurance from your property management company or landlord. Even if it's not required, you should consider adding it to protect your belongings. It's affordable and if you happen to experience theft or a disaster, such as a pipe bursting or a fire, you'll be covered for your belongings. Is it worth it to have renters insurance? Absolutely. According to one statistic, 88 percent of burglaries are residential. Renters insurance takes care of the obvious, such as stolen items from a break-in, but did you know it also...
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Amanda Blanc has joined global insurtech Trõv as its senior adviser, just as the business confirms its partnership with Lloyd’s Banking Group to launch a white label renters insurance application. The insurtech announced the new appointment on its blog yesterday, written by Trõv’s founder and chief executive Scott Walchek. He stated that “Trõv is the only global insurtech business for which [Blanc] will be an adviser.” Welcoming Blanc, he said: “[Blanc’s] advice will be invaluable to both our enterprise applications and mobility insurance business units as she will focus on strategy, partnerships and expansion opportunities. “[Blanc] possesses a contagious enthusiasm that’s inspiring, a...
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COLUMBUS, Ohio--( BUSINESS WIRE )--Rental insurance has long been clouded by confusing, generic plans sold on agent commissions, without understanding and protecting real people’s needs. Until now. Root Insurance, the largest property casualty InsurTech in the country, has launched an affordable, streamlined renters insurance designed and personalized around real consumer need, for as low as $6/month. With increasing urbanization and a rapidly expanding rental market, there’s significant demand for fair, affordable coverage that is personalized for customers. In addition to covering customers’ personal property and liability from accidents, Root renters insurance pays for things like...
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