While renters insurance offers broad protection for tenants, it's important for consumers to choose the policy that best suits their individual needs.
A renters policy can cover your personal belongings and help cover legal costs in the event you are sued for accidental bodily injury or property damage of others. But not all policies are the same. Here are five questions to ask your insurance representative to help you make the right choice.
1. What's Covered and What's Not?
A renters policy generally covers your stuff against events like theft, lightning, fire, smoke, vandalism, explosions and windstorms.1 There's also liability protection against claims and lawsuits alleging that you caused bodily injuries or property damage. There may be coverage for certain kinds of water damage, such as leaks from damaged pipes. Your insurance rep can tell you if the policy includes additional living expenses if you're forced to move due to a covered loss.
A typical renters insurance policy does not generally provide coverage for damage from floods and earthquakes. Also, there will be limits on how much coverage is provided for your things. There could also be lower limits in the policy for different categories of your possessions. If you own expensive collectibles, such as jewelry or art, ask your insurance representative about buying additional coverage for these valuables.
2. Will a Renters Policy Cover my Roommate?
Renters insurance typically covers family members, but may not cover roommates. Calfee Insurance recommends that each occupant obtains his/her own policy to cover their individual stuff.
Some insurers allow roommates to be insured under a single policy. In these instances, roommates must agree to the level of coverage, based on the combined value of their stuff. If one roommate moves away, the remaining renter typically will need to obtain a new policy.
3. What's the Difference Between Cash Value and Replacement Coverage?
There are two types of renters coverage, one that pays based on your property’s actual cash value and one that pays based on you property’s replacement cost.
For example, a computer you bought for $1,000 eight years ago has significantly depreciated in value, let’s say to $200. If you have a cash value policy, the maximum amount you would be paid would be the lesser of the cost to repair it, or $200. If you have a replacement cost policy, the amount you would be paid would be the lesser of the cost to repair or replace the item with a similar new computer.
4. Will Owning a Dog Affect my Renters Coverage?
Some policies provide coverage if your dog injures someone, and some insurers exclude or limit coverage for customers who own a dog. It’s best to discuss this with your insurance representative when purchasing your policy.
5. Am I Covered if my Laptop Computer is Stolen from my Car Parked Outside my Home?
Renters policies generally include coverage for items stolen off-premises. That means belongings outside your home have insurance protection similar to the things inside your home. However, off premises coverage may be limited to a percentage of your total coverage for personal items. For example, if you have $50,000 in personal items coverage, the amount available for off-premises losses may be 10 percent of that figure, or $5,000. Also, keep in mind, there is generally a deductible that applies.
A Look At A Few Popular Decorating Styles Popular decorating styles are always changing. Is your home up to date on the latest fashion trends and decorating tips?
Popular decorating styles are fun, interesting and they just add something to talk about to the rest of the home. If you are considering a redo of your living room, your kitchen, your bedroom or virtually any other room in or outside of your home, consider some of today’s more popular choices. You are sure to find one, or two, that you really love to use.
Traditional: We have to start with the traditional look because it just does not go out of style. Here, the look is furniture that comes from the Kings and Queens of yesteryear, early American trends and a wide range of other formal styled items. You are looking for traditional to come through in the upholstery, in the window treatments and even in the accents that are placed around the room. Traditional is a style that is highly expensive to pull off with exceptional quality furnishings.
Shabby Elegance: Who’s to say that this is not one of the best methods of decorating. The look is that of chic, something that features light toned wall and furniture colorings, old china pattern looks, warm yet comfortable pieces that create a sense of relaxation when you look at them.
Contemporary: Modern contemporary looks have always been in style in the last decade. These looks are influenced by pieces that are bold and bright, different and unique and are functional yet are also more of a piece of art as well. You will find straight, clean lines in the furnishings and walls here.
Art Deco: This popular decorating style is one that seems quite a bit like the modern contemporary yet it has a more flowing look to it. The lines are not as straight, but rather are curved.
Rustic: The look for the log cabin is not gone. In a rustic Southwestern feel, you will have woods used of various types. It will have a laid back feel with warm throws and soft, comfortable furniture. The color scheme here is that of warm, rich colors that complement the woods.
French Country: This is a very popular choice in decorating styles. Here, you will have many bright colors and will have that feel of whimsical dreaming. Wood finishes are done with fruitwoods and cherry. Art work with color is on the walls.
One of these popular decorating styles will work perfectly in your home. There are plenty to select from to help you to transform the look for your home into something that is amazing.