Posts tagged "Renters Insurance"

I rent a house and the landlord refuses to cover costs from a burgulary?

Question by Tony a: I rent a property and the landlord refuses to cover costs from a burgulary?
Whilst on holiday in spain more than xmas the house i rent was broken into, ive had to spend £140 to have the window boarded and the price of replacement glass, my landlord refuses to meet the fees and says i need to have “renters insurance”, is this not covered by the landlords buildings insurance ??

Very best answer:

Answer by James M
Leave the board up over the window. Move.

Give your answer to this question beneath!

Renters Insurance

Your landlord most likely has insurance to cover the home or apartment creating that you live in, but if your bicycle or television is stolen, that’s your problem. Landlord Jim Eury says his insurance coverage covers his property only. It does not cover his tenant’s belongings nor does it cover them in situation there is a lawsuit against them. Renters insurance will replace your property if it is stolen or destroyed in a fire. It also provides liability coverage in case you are sued. Just before getting, estimate the value of your belongings. Bill Bailey, Insurance Info Institute says insurance policies have limits on coverage for high-priced items such as jewelry, furs, and computers. You will need a unique floater for these items to be fully covered. The value for renters insurance coverage varies by company. For more information, check with your agent or company representative. For a lot more info about insurance, go to the III Internet internet site at www.iii.org

What’s Protected With Homeowners Insurance?

Homeowners insurance covers your personal home, including the contents of your home, and any personal belongings you or members of your household use, own, wear or carry—basically everything and the kitchen sink. Many Homeowners policies cover your personal belongings and/or contents anywhere in the world.  This insurance coverage is also based on your house’s coverage, and there are limits on the losses that can be claimed for certain items, such as cash, furs or jewelry—limits that can be increased with supplemental premiums. homeowners insurance can help restore or replace what you have lost, and compensate those who have been injured as well. Don’t even think about being without it, for the risk is too great. Homeowners insurance rates vary from insurance firm to insurer but for the most part take the same things into consideration. Therefore, it is important to know how you, your home and the location you live in affect what you pay for insurance. Homeowners insurance is always a good idea, as homes cannot avoid damage. It’s a good idea to get several home insurance quotes to find out what sort of policies and insurance rates you can get for your property.  Homeowners insurance helps pay to fix or rebuild your home and replace personal property due to a covered loss.

Homeowners insurance usually does not cover landslide damage. I have been to many homes that have been damaged by landslides and have only heard of one situation where the homeowners insurance company paid for the loss (after a lawsuit determined that the damage was done by a rock fall and the insurance did cover damage from falling objects). 

A form of Homeowners Insurance that many people don’t know about is Renters Insurance.  Renters Insurance is extremely important for anyone who is renting an apartment, house, or condo.  Renters Insurance has both benefits and limitations, but not having it can cause extreme hardship in the event of a loss as Rental Home & apartment owners aren’t responsible for the personal belongings or liability exposures of their tenants.  Renters insurance coverage protects the tenant from the unexpected and is generally inexpensive, so having it is a no-brainer.  

Actual cash value is the amount it would take to repair or replace damage to your home after depreciation. Actual-cash-value coverage reimburses you for the cost of your property at the time of the claim, minus the deductible. This can result in a lower claim payout than you expect. Actual cash value factors depreciation into the value of your house, while replacement cost covers the cost of repairing and/or replacing damaged parts of your house, which can be more than the depreciated value. You also need to consider the other property you own in your house, such as furniture, appliances, clothing, and more.

If you live in Indiana, Erie Insurance is a great company that provided insurance services to Indiana residents.  Erie Insurance has been recognized on the list of Ward’s 50 Group of top performing insurance companies. The Ward’s 50 award analyzes the fiscal performance of 3,000 property and casualty companies and 800 life-health insurance companies and recognizes the top performers for achieving outstanding financial results in safety and consistency over a five-year period (2004-2008).

Capital Insurance & Financial Services, LLC is an independent insurance agency in Fort Wayne, Indiana that represents Erie Insurance.   Capital Insurance & Financial Services, LLC will happily provide you with a comparative quote on your homeowners insurance, with no obligation or cost.   

Who pays for the home insurance when you are owner financing it? Also in the state of Texas what insurance c?

Who pays for the home insurance when you are owner financing it? The seller or the buyer? Also in the state of Texas what insurance companies provide mobile home insurance?

Who’s name is on the title, at the registrar of deeds? Until the title is passed to the buyer, the house is just a RENTAL, and needs to be insured that way. If this is a land contract, the SELLER should keep the policy to 1. make sure it gets paid and 2. make sure they have coverage in place, should the contract revert to rental. The buyer should THEN carry a renters insurance policy.

If the deed is being transferred immediately, then the BUYER gets the policy. Then the seller just has to hope that the policy gets paid.

Most of the time, owner financing is more hassle than it’s worth. If the person isn’t credit worthy enough to secure a mortgage on their own, they’re most likely going to default on YOUR mortgage, also. Then, depending on the condition of the property, you’re left with something basically unsellable.

Check out this site, if you want to find the cheapest home insurance just in one minute,

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

Here you can get free quotes from different home insurance companies in your area, its the best way to find an afforable home insurance with a reliable company.

Best Wishes,

Homeowners Insurance Quote – How to Get the Best Rate

Home owners insurance is an integral part of our lives. If the devastating happens, you don’t want to lose everything you own and have to start over. Homeowners and/or renters insurance will help you out in the event the worst ever does happen.

There are several ways to keep the cost of your home owners or renters insurance lower. One way is to comparison shop.

Comparison shopping is very easy to do, especially using the internet. You just have to go to the website of several insurance companies, fill in some data on questions they will ask, and you will receive the quotes online. If you have questions there is often an agent on duty that can answer them online or on the phone. You can save a great deal of money by comparing quotes and it is always worth the time you take in research.

Another avenue for savings is to consolidate your auto and homeowner’s insurance. Many companies will give you up to a 30% discount on your home owner’s insurance if you insure your other valuable with them. It also makes it much easier to be dealing with only one agent.

One thing that many people do is raise their deductible. Your deductible is the amount that you have to pay yourself before the insurance company has to pay anything. Raising your deductible can alter the price of your policy considerably. Many homeowners will set their deductible for $500. Changing that to $1000 will save you about 25% each year on your premiums. Increasing your deductible to $2500 can increase the savings on your premium as much as 35%. With just a few years with no losses your savings can be significant.

Installing home security devices will also lower your premium. Simple things like having deadbolt locks, fire extinguishers, smoke detectors, fire alarms or burglar alarms can decrease your policy from 5% to 25%.

Finally you can request a discount. There are often discounts for military personnel, single parents, non-smokers, seniors and law enforcement officers, as well as many others. It never hurts to ask and may save you a great deal of money in the long run.

Drew Montgomery
http://www.articlesbase.com/insurance-articles/homeowners-insurance-quote-how-to-get-the-best-rate-555199.html

Is Renters Insurance Mandatory If I Rent A Condo?

I’ve been having a hard time finding a new place, but I came across a very nice 3 story condo complex that had one on the 2nd floor for an affordable price.
A few people have told me that I HAVE to get renters insurance if I want to rent it.
Is this true?

It also claims I have to pay for the gas as well. I’ve never had to pay for gas before in the apartmetns I’ve had. Is this a costly expense?

thanks!

The HOA may very well require insurance.

Consumables, like gas are almost always paid by the tenant, not the landlord.

Can a renter make a claim on their land lords homeowners insurance?

My apartement was broken into last week, and I am out about 4000.00 dollars. I have no renters insurance. But, does anyone know if I can make a claim on my landlords homeowners insurance? Has anyone actually done this before? Thank you.

Sorry – you generally need to have renters insurance to have your stuff covered. However, if you purchased any of this with a major credit card, you may be able to file a claim under their purchase protection programs. Call up the 800 number on the back of your cards and ask them to send you the brochure that explains your card’s protections and benefits.

If there was something negligent about the property’s security (such as the landlord ignored a request you made a month ago to have locks repaired) then there is a slight chance you could make a claim against their liability insurance. But, it is a tough case to prove.

If that is a dead end, then at least you can deduct some of this from your income taxes as a casualty loss. Get a police report documenting the theft to help back you up.

Good luck. Next time, buy the renters insurance. It only costs about $50 a year to insure more than $5,000 worth of contents.

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?

About how much would property insurance be on a new condo?

I am looking to buy a brand new condo in Jacksonville, Florida for about $138,900. How much would my property insurance be? I know a lot of factors determine the price, but a rough estimate would be nice. Also if anyone knows how to calculate this, that would be greatly appreciated. Thank You

The property insurance (OUTSIDE) for a condo is covered in your Home Owners Association. If you want to get insurance to cover your personal property (inside) you get insurance for your belongings which would be very inexpensive, maybe $2-300 per year. It’s the equivalent of renters insurance.

Get Free Homeowners Insurance Quotes Online

A video explaining how to get homeowners and home renters insurance quotes for FREE online. It’s really easy.

The website in the video is:
http://www.great-info-products.com/Insurance/home-insurance.html

Duration : 0:1:31

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