Posts tagged "Renters Insurance"

AmFam | Reasons for Renters Insurance

You’ve built a home out of your apartment and filled it with all the things that make up your life. If these personal possessions were damaged, destroyed or stolen, would you be able to replace them? Check out this video from American Family Insurance and visit www.amfam.com for more information about renters 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!

Insuring Your Apartment Building

After years of saving and investing you have finally started to look for a form of rental property that you can buy and expect to provide you with a steady income. While individual rental homes can assuredly provide you with a moderate income, you are thinking on a larger scale and decide that perhaps owning an apartment building might be a much better investment. If you are going to invest your life savings in an apartment building, you will need to make sure that you have the right type of apartment building insurance to go with it.

The first thing you need to realize with owning any kind of residential rental property, including an apartment building, is that you are going to have to buy two forms of insurance. Not only are you going to have to buy property damage insurance that covers the building against any kind of damage, you are also going to have to purchase liability insurance that protects you in the off chance that one of your tenants or their guests are injured on your property. These two important coverage forms are usually now combined on one insurance policy.

You will find that no matter what state you own your apartment building in, you will be required to carry both of these forms of insurance. Building insurance is there to protect your investment in the event of anything happening physically to the structure. This can range from having a tenant break a window or get drunk and punch holes in the walls to a major catastrophe such as a fire that totally destroys your apartment building and with it your investment.

Keep in mind that just because you have invested in a building insurance policy that it covers the structure itself and everything that is a part of the structure. Your insurance does not cover anything that is owned by your tenants, it is up to each tenant to provide their own renters insurance policy to protect their personal belongings.

As part of your building insurance you may also want to look at a policy that covers mechanical breakdown so that in the event you have a heating boiler break down or the central air conditioning system goes on the blink, you have an insurance policy in place to cover the costs of repairs as these types of repairs can be very expensive.

While your apartment insurance is there to cover the cost of damage to the building, you will find that most landlords/building owners create their own insurance fund to cover small repairs by charging their tenants a security or damage deposit. This way they are not constantly bombarding their insurance company with small claims that are going to drive the cost of their insurance premiums up with every new claim.

The other insurance you are going to need is liability insurance. This insurance is in essence there to protect you from the legal costs and aspects should one or more of your tenants or their guests become injured on your property and the courts deem that it was due to negligence or fault on your part or that of one of your contractors or employees.

Liability insurance will cover paying for all of the person’s medical bills as well as any damages awarded by the courts. It will take care of any physical therapy and rehabilitation costs as well as pay your legal fees in the event that you are sued in a court of law for damages.

As with any type of insurance, you will need to shop around to get the best price. This is not something you should even contemplate buying out of the yellow pages. While you may find that there are insurance agents listed in your local phone book that sell this type of insurance, you can find the same or better coverages online from a wide variety of insurance carriers at much better prices than the average local insurance agency can afford to offer you.

Rather than spending countless hours searching every apartment building insurance company online to find one that is willing to provide you with the insurance coverages you need at a price you can afford, you need to visit the Building Insurance Experts. We are an insurance comparison site that will take your information and your requirements and submit them to a selection of the top building insurance companies in the country. Within minutes instead of hours you will receive quotes in your email that will help you to find the coverages you need at rates you can afford to pay.

Does “insurance” go up if you add a person to the lease when renting an apt?

Question by Bayba: Does “insurance coverage” go up if you add a individual to the lease when renting an apt?
I have been living w/ my boyfriend and his very best pal for more than 2 years, but technically, I wasn’t truly living right here b/c I wasn’t on the lease. But now I would like to be place on the lease and when brought up to the landlord, he says if I keep in the apt for far more than 3 night a week, legally he has to add me to the ‘insurance’. He stated the insurance would be $ 200 far more that we have to cover…can this be genuine?! Our rent is already $ 1600 for 1000 sqft, stained carpet, a floor bored by the sliding door that is rotting that he refuses to do something about and says it is our fault (except if we leave the door open every single time it rains for a year, that’s impossible…the door leaks) and the kitchen is, I am not joking, 9×6. And now he desires $ 1800??! We live in ffld county and I still feel that is insane. He mentioned he would raise the rent, but it’s the ‘insurance’ he has to add me as well. Actually? $ 2400 a year for 1 individual in a two bedroom apt? And my boyfriend and I are sharing a room…somebody please shed some light on this predicament.

Thanks! <3

Finest answer:

Answer by Wildcat
They are making use of improper terminology or simply making issues up. No tenant is ever added to any insurance. The property insurance is only in the owner’s name. It is up to a tenant to get renters insurance.

All tenants ought to be screened and on the lease. Landlords have each and every correct to charge far more rent for added people. They did not have to give you any extra bogus reason, you getting there is all the cause they require. You either spend the increased rent or discover yet another spot. Would you rather they simply evict all of you? Because an unauthorized tenant is legal grounds for eviction.

He does have to fix that door. The following is legal in most states: You will need to send him a certified letter stating the required repair. I know you have talked to him about but but a letter is necessary for legal proof that he knows about it. He then has 30 days to get it fixed. If he nonetheless refuses then you can have a licensed contractor fix it and take that amount off the up coming months rent. Be sure to give him a copy of the paid invoice.

The size of the unit, the size of the kitchen and the condition of the carpet are all fully immaterial and legally have absolutely nothing to do with this.

Give your answer to this question below!

How To Buy Renters Insurance

Expand the description and view the text of the steps for this how-to video. Check out Howcast for other do-it-yourself videos from Armando79 and more videos in the home insurance category. You can contribute too! Create your own DIY guide at www.howcast.com or produce your own Howcast spots with the Howcast Filmmakers Program at www.howcast.com It isn’t only homeowners who need to protect their belongings from fire, theft, or other damage. Renters can, and should, get insurance as well. To complete this How-To you will need: A rented apartment or house Belongings you want to protect Step 1: Evaluate your belongings Estimate the value of your belongings. This will help determine the level of insurance to purchase. Step 2: Itemize everything if possible If possible, itemize everything, noting value and purchase date. This will make filing a claim much easier. Step 3: Cash or replacement value There are two types of insurance coverage available, cash or replacement value. Cash coverage takes into account the age of your belongings, while replacement value covers the actual cost of replacing items. Tip: When selecting coverage, consider an item’s value to you, as well as the ease of replacing it. Step 4: Look at specific policies Your car or health insurance may also offer renters insurance, but be sure to shop around. Your current company may offer discounts, but they aren’t the only game in town. Step 5: Consider any extra floaters you may need Consider buying a floater …
Video Rating: 4 / 5

Should my insurance, BlueCross/BlueShield pay for a dog bite injury which happened at someone elses house?

Question by Kester: Should my insurance, BlueCross/BlueShield pay for a dog bite injury which happened at someone elses house?
My son was bitten by a dog at our friend’s house. My insurance, BC/BS, will not pay for the injury to be treated claiming that our friend’s ‘Homeowners” insurance should pay for it. However our friend’s are renters and have NO insurance, and NO money. Am I going to have to pay for this myself out of pocket? I feel like my insuance company has abaondend me and my son. If my son was to get injured at my house (which has happened before) BC/BS would and has paid for it and not claimed that my homeowners insurance should pay for it. Any ideas on how to proceed? Suing our friends who have no money will only cost me money and result in getting zero from them.

Best answer:

Answer by mbrcatz17
Well, yes, and then THEY can sue your friend for reimbursement.

Your friend should have had RENTERS insurance, to cover the bite. If your insurance pays for the bite, then they WILL sue your friend – so without insurance, your friend will have to pay for this, or have his wages garnished forever until they get reimbursed. That subrogation clause IS their right, and it’s in the health insurance policy.

It’s HIGHLY unusual for an insurance company to say they won’t pay. Have you told them he has no insurance? I’d tell them that, AND ask them to put the DECLINATION IN WRITING, so you can submit it to your state insurance commissioner for review.

That ought to light a fire under their rumps. And as soon as you have it in writing, submit it – but I don’t think you’ll have to, because I think they’ll pay when you tell them that.

What do you think? Answer below!

Renters Insurance (How to Insure…)

Renters Insurance (How to Insure...)

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 underserved ma

List Price: $ 2.99 Price:

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

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

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