Category: General
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Is Renters Insurance Required?
The short answer to “is renters insurance required?” is “it depends.” States regulate insurance, including renters insurance. To our knowledge, there are no states that legally mandate renters insurance. Landlords and property management companies, however, may require renters insurance as part of their lease agreements. It is important to check your state rental housing laws…
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What is NOT covered by Renters Insurance?
When you purchase insurance, you hope it will save you in a time of need. You typically pay a premium every month to have insurance. So you really hope that it will be worth it when you need to use it. It is important to understand your insurance policy to to know what it will…
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Does Renters Insurance Cover my Roommate?
Renters insurance generally covers the persons listed on the policy and may include those related to the named persons. Insurance is state specific. So it is important to check with a licensed agent in your area who can guide you on the best approach for renters insurance if you are in a roommate situation. So…
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What does Renters Insurance Cover?
Somewhat similar to homeowners insurance, renters insurance is for people who rent or lease a home. They do not own the property in which they live. Renters insurance is meant to cover losses of personal property and protect the renter from liability claims. So what does renters insurance cover? There are three primary components of…
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How Much is Renters Insurance?
When someone asks, “how much is renters insurance?” the straightforward answer is “it depends”. Compared to other types of coverage, especially medical and automobile, renters insurance is not terribly expensive. Today, the average cost is around $15 to $20 a month. There are many factors that affect the cost. And these factors are both in…
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Why Landlords Should Require Renters Insurance
Landlords take steps to protect their property. The insurance policy on the rental property generally covers the building itself. It is renters insurance that can protect the tenant’s belongings and provide liability coverage for covered events related to injury or property damage. Because of the additional protection for landlords and tenants, landlords should require renters…
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Why Tenants Should Have Renters Insurance
Simply put, tenants should have renters insurance because it provides peace of mind when the unexpected happens. It reduces the financial impact of unexpected and sudden events. Tenants pay for renters insurance. The good news is that renters insurance is inexpensive. The average monthly premium is $14 or $168/year. A renters insurance policy covers the…
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What is Renters Insurance?
Renters insurance is a type of insurance that can cover the policyholder’s physical belongings, liabilities, and certain living expenses for covered events. Policyholders are tenants who are renting or subletting rental property including single family homes, apartments, condos, etc.. It can protect tenants in cases of unexpected events like theft, injury, and property damage. Most…
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Welcome to The Renters Insurance Blog
Welcome! We are thrilled to introduce you to The Renters Insurance Blog. Our goal is to provide helpful information for landlords and tenants about this type of coverage. There are many different types of insurance and they can all vary in terms of cost and coverage. For example, two of the more popular ones are…