Call Us Call Us Today | 864.964.0622
Auto Insurance AUTO

Auto insurance protects you against financial loss if you have an accident.

Read More
Home & Renters Insurance PROPERTY

A standard policy insures the home itself and the things you keep in it.

Read More
Business Insurance BUSINESS

Discover the perfect insurance options to meet your specific and unique needs.

Read More
Life Insurance LIFE

Browse a variety of insurance options in order to find the right one for you.

Read More
Motorcycle Insurance MOTORCYCLE

Learn about different coverage options that fit your specific needs.

Read More
Boat Insurance BOAT

Finding insurance doesn't have to be difficult. We do the work for you.

Read More

Renters need insurance, too
when it comes to insurance.
Only 43% of renters in 2006 had insurance, compared with 96% of homeowners, according to a 2006 poll by the Insurance Research Council.

Most apartment dwellers aren’t being intentionally irresponsible on this front but simply don’t know that they need it, says Jeanne Salvatore, senior vice president of public affairs at the organization.
"Tip No. 1 for a renter is simply to get the insurance," says Salvatore.

STORY: Balancing act for best insurance ratesSTORY: Protect your family from lawsuits even if you aren't richSTORY: Ignorance is not bliss on homeowners coverage

A few popular misconceptions are the culprits behind renters forgoing coverage for the belongings in their home, industry experts say.

"People say, ‘I don’t think I have a lot of stuff. I don’t want to pay money to insure it.’ They don’t think it’s very valuable," says Amy Danise, senior managing editor of Insure.com.

But even the sparsest of apartments could have at least $1,000 worth of stuff after things such as a bed, computer and clothing items. "It would really be a financial disaster to renters to lose all of your things in something like a fire and not have insurance for it. That kind of financial blow can affect you for the rest of your life," she says.

Many renters also wrongfully assume they fall under the protection of their landlord’s insurance, Salvatore says. Landlord policies would take care of the actual building and common areas in the case of a disaster, but not the belongings of the tenants.

Unlike homeowners, renters policies don’t come with an automatic percentage for covering possessions, leaving the tenants the choice of determining the appropriate amount of coverage.

Renters should photograph belongings and tally up their value to make sure the policy would take care of replacing everything they own.

Beyond the loss of personal possessions, a renter could face litigation if a guest gets hurt in the apartment and the renter is at fault. Renters insurance policies offer liability coverage in much the same way that homeowners policies do, and even cover medical costs.

"If you have a party, and somebody trips on your rug and has to go to the hospital and get an X-ray, they can file a claim and don’t have to sue you," Salvatore says.

The immediate survival expenses can quickly add up if a fire or other mishap displaces a renter. A renters insurance policy will cover additional living expenses, such as essentials you need to buy and other living expenses that surpass your typical rental costs, Salvatore says.

Renters insurance can cover a lot, but it doesn’t actually cost much. Average costs for the coverage ran about $176 in 2008.

"That’s probably a fancy coffee drink a week," says Salvatore. So forgo the Starbucks and put the money into one of these policies, which can typically be purchased from the same provider of your auto coverage.

"It’s a small amount to pay for peace of mind," says 61-year-old Suzette Eaddy of Corona, N.Y., who says she’s had the coverage for many years — and hasn’t had to use it yet, luckily.This story has been sent from the mobile device of bryan@selectins.net. For real-time mobile news, go to .

Renters need insurance, too

when it comes to insurance.

Only 43% of renters in 2006 had insurance, compared with 96% of homeowners, according to a 2006 poll by the Insurance Research Council.

Most apartment dwellers aren’t being intentionally irresponsible on this front but simply don’t know that they need it, says Jeanne Salvatore, senior vice president of public affairs at the organization.

"Tip No. 1 for a renter is simply to get the insurance," says Salvatore.

STORY: Balancing act for best insurance ratesSTORY: Protect your family from lawsuits even if you aren't richSTORY: Ignorance is not bliss on homeowners coverage

A few popular misconceptions are the culprits behind renters forgoing coverage for the belongings in their home, industry experts say.

"People say, ‘I don’t think I have a lot of stuff. I don’t want to pay money to insure it.’ They don’t think it’s very valuable," says Amy Danise, senior managing editor of Insure.com.

But even the sparsest of apartments could have at least $1,000 worth of stuff after things such as a bed, computer and clothing items. "It would really be a financial disaster to renters to lose all of your things in something like a fire and not have insurance for it. That kind of financial blow can affect you for the rest of your life," she says.

Many renters also wrongfully assume they fall under the protection of their landlord’s insurance, Salvatore says. Landlord policies would take care of the actual building and common areas in the case of a disaster, but not the belongings of the tenants.

Unlike homeowners, renters policies don’t come with an automatic percentage for covering possessions, leaving the tenants the choice of determining the appropriate amount of coverage.

Renters should photograph belongings and tally up their value to make sure the policy would take care of replacing everything they own.

Beyond the loss of personal possessions, a renter could face litigation if a guest gets hurt in the apartment and the renter is at fault. Renters insurance policies offer liability coverage in much the same way that homeowners policies do, and even cover medical costs.

"If you have a party, and somebody trips on your rug and has to go to the hospital and get an X-ray, they can file a claim and don’t have to sue you," Salvatore says.

The immediate survival expenses can quickly add up if a fire or other mishap displaces a renter. A renters insurance policy will cover additional living expenses, such as essentials you need to buy and other living expenses that surpass your typical rental costs, Salvatore says.

Renters insurance can cover a lot, but it doesn’t actually cost much. Average costs for the coverage ran about $176 in 2008.

"That’s probably a fancy coffee drink a week," says Salvatore. So forgo the Starbucks and put the money into one of these policies, which can typically be purchased from the same provider of your auto coverage.

"It’s a small amount to pay for peace of mind," says 61-year-old Suzette Eaddy of Corona, N.Y., who says she’s had the coverage for many years — and hasn’t had to use it yet, luckily.

Posted 2:42 PM

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Facebook
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
© Copyright. All rights reserved.
Powered by Insurance Website Builder