Posts tagged "Renter Insurance"

Insuring What’s in the Box with Content Insurance

Article by Leon Belenky

If you think about your apartment like a box, the entire concept of content insurance will make a lot of sense. Picture a really nice wooden box, if you will. The box belongs to a business owner, who happens to let you rent it in order to store your most valuable items. Both you and the business owner are required to insure your parts of that box and its contents. You will insure what’s inside the box, and the owner will insure the actual box. So if a fire destroys both the box and the contents, then both insurance policies will kick in. If the box is broken into and its contents are stolen, your insurance will cover the theft. If a thief takes a sledge hammer to the walls of the box but doesn’t steal any of its contents, then the owner’s insurance will cover the damages.

See how it works? This is exactly what happens with content insurance for apartment renters. However, things can get a little messy if, for instance, the contents of the box damage the box itself. If you, as a renter, are negligent enough that your property – an animal, a burning candle, or an overflowing tub – damages your apartment, you’ll need your insurance policy to cover the damages for the landlord, which is why many landlords actually require their tenants to have renter’s insurance.

Also, as a renter, you need a way to protect the contents of that box that you happen to call home. If you owned your own home, then your homeowners insurance would protect both your box and its contents, but since you don’t, you just need a policy to protect your furniture, electronics, valuables, etc. This is where content insurance comes in. It’s usually very affordable, and it offers coverage against fire, flood, thieves, and more for your property that is in a place you don’t own.

Before you buy this type of insurance, though, make sure that you know exactly what you’re getting. Sometimes, content insurance will insure contents you own even if they aren’t in the box at the time, so you can get insurance coverage on a laptop that gets stolen while you’re traveling. Details like these, though, can be difficult to tease out of an insurance policy, so it’s important to either talk to your agent or spend time looking at your policy to make sure you know exactly what you’re getting.

About the Author

RentersInsurance.net provides US consumers with the opportunity to shop online for apartment rental insurance. Visit RentersInsurance.net to find the best apartment insurance.

My old landlord is trying to find things wrong with my apartment so he doesnt have to return my deposit back..?

Question by Joseph C: My old landlord is trying to find things wrong with my apartment so he doesnt have to return my deposit back..?
He’s been looking for the smallest things so he doest have to return my deposit,
this is what happened,:
when I moved in a year ago he showed me the basement and he told me that the only problem with it is that a corner in the winter it gets water on the floor, so he told me to avoid to put stuff in that corner.
I did what he suggested and I put all my stuff on the opposite side of the room….
suprise suprise, the basement got flooded completly, and ruined all my stuff, I had to throw everything away. I haven’t been able to use the second bathroom located in the basement cause of it, and I have’t been able to store nothing else .
I showed to him 2 minutes after I found out and his answer was ” I told you in the lease you were suppose to get renters insurance”.
First of all I’m not asking for any money or reimbursement, I never did, all I want is him to admit that out of a whole house technically I’ve been able to use only 1 of the 2 bathrooms promised in the lease, and 3/4 of the house cause the basement was not accesible.

MY QUESTION IS:

do I have a case or that sentence in the lease “I suggest you get renter insurance”, ruins everything.

sorry for my english, I dont speak very well yet.
thank you

Best answer:

Answer by kemperk
i am puzzled. While I know that mid-westerners love basements, in the SW, we don’t have them so we don’t consider them.

YOU KNEW x amount of water came in during the winter. sounds stupid………if i felt water
was going to come in, I would find out from experts, how and where, and then, I would
pay for water PROOFING in advance.

I would say you have no case but I WISH YOU DID.

I offer the supposition that the basement is extra. It might hold storage space,
a bathroom, a bed, etc. YOU did not seek experts to make sure the area was
dry after he told you it could flood.

I would have said either, “no thanks, I don’t want the chance of flooding” or I would have
said, “who is a water sealing service?” if I felt I was going to use the basement.

Maybe in your state, the LL is held responsible for the water tightness of basements.
IF so, ask them! CALL a RE firm and see if they do renting [ask for the broker]
and if yes, ask if the LL in your state is responsible for the water proofing of the basement.

sorry!

What do you think? Answer below!

Does my landlord need insurance?

Question by Kiddo: Does my landlord need insurance?
My lease references “manager’s insurance” so do they need to have it? Seems to me this implies that they have it and therefore if they don’t it is misleading?

I caused a fire cooking chicken (I didn’t know cooking oil explodes at random, I was standing right next to it too) and the surrounding cabinetry was damaged as well as the stove. I called my insurance agency and they say renter’s insurance does not cover the apartment – only MY things. So there is no way I could have protected myself against this – except maybe taking a course in chemistry?…My landlord made no reference of having insurance and charged me a large bill, which I paid, but now I’m thinking they should have made a claim with their insurance agency assuming they have one.

I would really like to get some of my money back, any suggestions on how to do this are appreciated.
Ok, thank you for all the emphasis on how it was my fault.

What I’m wondering is if my landlord should have filed a claim, had her insurance bring the charge down, and THEN billed me.

But I see that YOU all are A BUNCH of angry LANDLORDS bent on POINTING fingers at RANDOM people.
And please read the post, RENTERS INSURANCE DOES NOT COVER THIS.

And for the smartas$ who said I should take a cooking class – I was following a recipe. And people shouldn’t have to go to school for cooking to rent an apartment.

Best answer:

Answer by Landlord
No, you damaged this, you pay for it. Insurance does not cover tenant damages. It would only kick in if you burned down 25% of more of the building but you can bet the insurance company would turn around and get the money from you.

Just because he has insurance does not mean you can do things like this.

Know better? Leave your own answer in the comments!

Health & Renter’s Insurance : Advice on Renter’s Insurance

Anyone who is renting property should get renter’s insurance because it covers both personal property and liabilities. Find out how to cover expensive items in a house through renter’s insurance with help from an insurance representative in this free video on renters insurance. Expert: John Pinelli Bio: John Pinelli is a financial representative. Filmmaker: Bing Hugh Series Description: Health insurance helps to pay for medical procedures through premiums that are paid by groups or individuals to protect against high or unexpected health care expenses. Learn about health insurance and renter’s insurance, and why they’re important, with help from an insurance representative in this free video series on insurance and personal finance.
Video Rating: 0 / 5

Renter’s Insurance: How to Get the Best Coverage for the Cheapest Price When Someone Else Owns the Place Where You Live

Renter's Insurance: How to Get the Best Coverage for the Cheapest Price When Someone Else Owns the Place Where You Live

How renters can buy effective insurance that works when they need it. This 9th book in Silver Lake's Insurance Series includes • an analysis of standard insurance policy forms • case studies of problems and solutions • interviews with industry insiders about how this special coverage works Most insurance that's advertised to protect the place you live and the stuff inside is aimed at home owners. But more than half of all Americans rent their apartments or homes and they're an underse

List Price: $ 11.95 Price: $ 11.95

In the state of Ohio, is it legal to force a tenant to purchase “renter’s insurance?”?

Question by Mike Stankiewicz: In the state of Ohio, is it legal to force a tenant to purchase “renter’s insurance?”?
My landlord sent me a letter stating that in order to renew my lease, I ought to procure tenant insurance. He owns numerous properties, and last year one of his tenants triggered a fire. I personally assume he is attempting to goad every person into acquiring their personal insurance, so his insurance deductible will be lower. Is this legal, is it correct? I’m struggling as it is, and although it could not be significantly, I genuinely can’t afford an additional bill. Any valid insight would be drastically appreciated.

Greatest solution:

Answer by brian-the-brain
renter’s insurance covers the stuff in the apartment or home. The owner has home owners insurance coverage to cover the developing only. What you are saying doesn’t truly make sense. I am nearly optimistic you can’t be forced to get it.

Right here is a link to ohio landlord tenant law, in specific about renters insurance coverage. You might peruse the site to discover more information.

http://www.ohiolandlordtenant.com/faq30.html

The dilemma is that he isn’t evicting you. You do not typically want to renew a lease to keep someplace, there is usually a provision in the agreement that it simply defaults to month to month. So you may well be able to not renew the lease and force him to evict you. At that point you may possibly have more rights. Just before you get to this point be positive you know the law. Don’t just do it and then locate out it wasn’t the right course of action.

You really should call a lawyer that specializes in landlord tenant law in your place and ask them a few totally free questions more than the telephone. If they wont let you ask a couple of concerns for free then call another, an individual will assist you. They will know the law inside out.

The bottom line is if you are becoming screwed by the landlord, a court will side with you. This sounds like just such a situation. Just speaking to a lawyer and obtaining them explain the law to you so you can call the landlord and tell them what you discovered will likely be sufficient. Landlords don’t normally want to do the wrong theing they are just sometimes not up to speed on the law just like a lot of tenants aren’t. They attempt and do something that can make sense to them and do not understand it is incorrect for them to do so.

Very good luck with your dilemma

Add your own answer in the comments!

Can an Insurance Company charge damages for water damage when the condo board paid a deductible on their claim?

I am the tenant of a condo and had accidental water damage to the unit, and floors below. My landlord claims they do not have insurance to cover the damage, but the condo board does and has paid out a $5000 deductible for the insurance for all the units to the insurance company, which I have reimbursed. Now I have been contacted by the insurance company about being charged for the remainder of the damages.

My question is, am I not sheltered by the condo boards insurance deductible?

Your situation illustrates a prime example of why tenants should purchase renter’s insurance. The condo board insurer covered the loss to the condo, but that doesn’t mean the insurer is not going to attempt to recover its payout from the person responsible for the damage. That person is YOU. No, you are not sheltered or covered. You’ve already paid the deductible portion to the condo. Now the insurer involved wants to recover ITS payout. If the condo insurer had a zero deductible, it would be coming after you for the entire amount of the damages. This insurer is following standard practice for such situations. Learn the value of renter’s insurance.

What’s the difference between condo and renters insurance?

Thanks!
Thanks so far but I was told I needed renters insurance b/c of our tenant. We own a condo and rent it out. Is this true?

Renter’s insurance only covers your personal belongings inside the home, whether it’s a condo, house, or apartment. It doesn’t cover the structure itself. So if you buy a condo and only have renter’s insurance, if the building catches on fire and burns to the ground your personal stuff is covered but they don’t pay to rebuild the building itself.

If you are buying a condo and the HOA fees include insurance, it means they will pay to rebuild the building if it burns down but NOT cover your personal belongings.

Does that make sense?

Does home insurance cover when you rent out the house and the tenant causes a house fire?

Does home insurance cover when I rent out the house and the tenant causes a house fire (assuming the house completely burnt down)? If not, do I need to buy landlord’s insurance or ask the tenant to buy renter’s insurance? Where can i compare home insures? Thanks

Try this site

http://best-home-insurance-comparator-usa.blogspot.com/

"homeowners insurance" covers the owners dwelling [house/garage] and contents [owners personal property on the premises]. "Owner" [landlord if he is the owner] takes out this policy and is responsible for the premiums. If building is leased or rented out, it does NOT cover tenants personal property, such as furniture, electronics, etc, or even tools borrowed from a neighbor.

"Renters insurance" covers the tenants personal property only. They take out this policy and pay the premiums.

Home owners policies cover every circumstance EXCEPT what is listed in writing, or "exemptions". These are normally: floods [obtain this through FEMA], home businesses losses [such as a fire in a residential garage being used as auto repair business], or anything else that is listed in writing. If your house up in Alaska gets stampeded by purple elephants, and it is NOT listed as an exclusion, it WILL be covered.

Are You Looking For A State Farm Home Owner Insurance Quote?

It’s no secret that State Farm Insurance is a huge insurance company in America. State Farm Insurance offers automobile, life, health, disability, long term care, business, boat, farm and ranch, volcano damage, personal, and community organization insurance policies. Of course, they offer home owner insurance as well, which branches out to mobile home owner insurance policies, renter insurance policies, and condo owner insurance policies.

So, if you’re looking for a State Farm home owner insurance quote, it’s probably safe to say you’re going to be in good hands. You can obtain a State Farm home owner insurance quote online, or you can search for your nearest State Farm home owner insurance agent by providing your home state and zip code.

Aside from being able to obtain a State Farm home owner insurance quote online, or being directed to your nearest State Farm home owner insurance agent, State Farm Insurance also offers you the ability to manage your insurance policies online, make payments online, and file claims online – all regarding your State Farm home owner insurance policy.

State Farm Insurance also provides information to help you better understand the worth of your home, how to safeguard your home by taking a look at your home’s roof and creating a disaster survival kit, and even offers a “Free Property Information Organizer.” Most of the little extras that State Farm throws in are all available via State Farm software, which makes these useful resources even more user friendly.

Choosing to get a State Farm home owner insurance quote is a safe way to go when searching for a home owner insurance quote. Plus, the helpful perks make getting a State Farm home owner insurance quote even more appealing. So, when you’re looking for a State Farm home owner insurance quote, you will likely get more than you bargained for – even if you decide not to purchase a State Farm home owner insurance policy!

Elizabeth Newberry
http://www.articlesbase.com/finance-articles/are-you-looking-for-a-state-farm-home-owner-insurance-quote-123531.html