THURSDAY, MARCH 26, 2015
Things to consider when shopping for Renters Insurance:
If you rent where you live, you should consider having renter's insurance. This protects you in case of a fire, a burglary or a natural disaster.
1) Shop around. If you already have insurance for your car or vehicle, start with that company.
2)When getting quotes, find out what is not covered and what the deductible is. The higher the deductible, the lower the insurance premium. So if you can foot the bill for the first $1,000 of loss, your premiums will be lower than if you take a $500 deductible.
3)Know EXACTLY what risks are and are not covered. Some policies are all risk, including loss, others specify exactly what is and is not covered.
4)Take pictures of things that you own, along with the sales receipts for high ticket items. Put these in a safe deposit box (something every adult should have). That way, if you have to make a claim, you'll have documentation.
5)Keep the policy in the safe deposit box along with other valuable papers, like the title to your car, your birth certificate, your original Social Security card, etc.
6)Have premiums auto-debited from your checking account. That way you can't have a policy lapse because you forgot to pay the premium.
7)Many things require a personal articles policy, as they are too valuable. Jewelry, artwork, even expensive computers may have to be listed separately.
8)If you have a loss, file a police report immediately if theft is involved. Without that, you are out of luck.
9)Document your loss. Take pictures of everything that is amiss.
10)Remember that the agent and the claims section are NOT connected. Your agent is Mr. Warm and Fuzzy. The Claims people usually say "NO" first. Keep pushing them if you've had a legitimate covered loss and they are stonewalling you. Ask to be handed up the line to someone who will say yes. Be willing to file a complaint with the State Board of Insurance. Also let them know you will be taking your other insurance elsewhere.
11)Don't expect the Federal Government to help you out if you've had a flood or a natural disaster. Protecting your stuff is YOUR responsibility, no one else's.
If you have more questions or need more information please call us at 877-277-9036. We are here to help.
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