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What Should Renters Know About Renter's Insurance?
October 9, 2018
Incredible benefits and very affordable rates.
Simple and straightforward. Your greatest potential for loss is not that associated with your “stuff”. Your greatest potential risk of loss is that associated with your responsibility associated with what might happen regarding the injury or property damage to others. Personal Liability offered by e very renters insurance policy may be the single “best-buy” in insurance. The risk of financial loss associated with injury or damage to others is not realized by many “apartment dwellers”, leaving them potentially personally liable for consequential costs. Renter's insurance helps protects that risk. As examples:
- Want coverage for property damage to your rental unit and that of all your neighbors?
- Buy “renter’s insurance”. Quoting “Ragu” spaghetti sauce… it’s in there.
- Want coverage for that guest who is bitten by your dog during that awkward introduction?
- Buy “renters insurance”. It’s in there.
This article may have been originally published at Quora.com.
To see Jeff's Quora.com profile click here.
“Am I covered if I drive someone else’s car?” Or, “Am I covered if someone else drives mine?”
Many don’t realize that the insurance industry is one of the country's most regulated business segments, especially in New York State. The New York State Department of Financial Services (NYS DFS) wields significant control over the insurance business and has a stated goal of protecting consumers.
Most property insurance companies offer Actual Cash Value or Replacement Cost settlement options. Typically, insurance companies will require that you insure the property to the settlement value you choose. If you select Actual Cash Value, the amount you may be required to insure the property for will be less than the corresponding Replacement Value.
In that spirit, the Ryan Agency is sponsoring a Stearns BBQ Dinner pickup at our office on 57 Broadway Mall in Hornell on September 12th from 3:00 PM to 4:30 PM.
Today, an individual’s credit history can play a more significant role than any one of those traditional factors. Good Credit Scores lead to a Positive Insurance score. A good Insurance Score greatly influences what someone will pay to insure their vehicles.
Insurance companies offer various discounts for which their policyholders may qualify.
Great Eight number Six (6) suggests taking a look at removing Comprehensive and Collision on Older Vehicles.
By reducing the number of claims in your insurance history, you can significantly affect your rates in the future.
Sometimes, this concept meets with resistance from policyholders. The thought of paying more in the event of a claim is off-putting to some. Even if that means I pay more for my insurance.
OK. Admittedly, this strategy doesn't benefit everyone, but it can be very beneficial for those it does. You may have unique home or auto insurance needs that prevent you from bundling with the same company. Alternatively… you might have a better rate without the bundle discount by splitting up your insurance between multiple carriers.
