All Articles Tagged "renter’s insurance"

Useless Insurance: What To Take OFF Your Plan

April 27th, 2012 - By Julia Austin
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"Different types of insurance"

Luggage we check, packages we mail, new phones—just about everything comes with insurance so, you may be a little uncomfortable with this concept: sometimes, you don’t need it.


5 Essential Facts About Renter's Insurance

September 1st, 2011 - By TheEditor
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(TheLoop21) — Hurricane Irene left lots of damage to rental properties that aren’t covered.  Purchasing insurance policies are normally overlooked when natural disasters haven’t taken place for some time. Hurricane Irene has reminded the 3.3 million people left in the dark that such investments are needed during times like this.  A 2006 Insurance Research Council poll found that 96% of homeowners had homeowners insurance while only 43% of renters had renters insurance. Why such a big difference? “Some renters are under the impression that it’s the landlord’s responsibility to get them insurance coverage,” Michael Barry, Vice President of Media Relations for Insurance Information Institute, told the Loop 21. “Before a renter moves in to a unit, they ought to talk to the person who issues their auto insurance policy because many auto insurers will also offer renters insurance,” Barry advised.

Why $1M in Renter’s Insurance Might Be Worth It

July 28th, 2011 - By TheEditor
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(Bankrate) — Renters may think that because they don’t own their homes they don’t need umbrella liability insurance, which provides coverage on top of other policies.  In most cases, they would be wrong. Umbrella coverage, regardless of whether you’re a homeowner, can shield you from potential financial ruin.  Such policies offer a minimum of $1 million of additional liability protection and cost just a few hundred dollars a year, says Frank N. Darras, an insurance attorney and founding partner of DarrasLaw, a law firm based in Ontario, Calif.

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Don't Risk It, Get Renter's Insurance

May 16th, 2011 - By TheEditor
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(Daily Finance) — Sometimes, mistaking a myth for a fact can be extremely costly.  Take, for example, the myth that the only people who need to insure themselves against fires, floods or other disasters are homeowners.  Everyone realizes that a property owner needs an insurance policy, but many renters overlook the fact that they, too, need coverage.  “Some think that because the landlord has an umbrella policy, they don’t need additional coverage,” explains Susan Voss, president of the National Association of Insurance Commissioners, the organization of insurance regulators. “Then there are college students who believe their parents’ homeowners insurance covers their apartment.”  “People somehow don’t think about renters insurance because their home is not a house that they own,” she says. They forget that while they may not own the building, they own the contents, and replacing them could be a major expense. Misconceptions about renters insurance can prove expensive when the unexpected happens. “A lot of the people in the recent tornadoes didn’t have renters insurance,” says Voss.

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