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Renters insurance provides financial protection
against the loss or destruction of your possessions when you rent
a house or apartment. While your landlord may be sympathetic to
a burglary you have experienced or a fire caused by your iron, destruction
or loss of your possessions is not usually covered by your landlord’s
insurance. In most cases, renters insurance covers only the value
of your belongings, not the physical building, so the premium is
By purchasing renters insurance, your possessions
are covered against losses from fire or smoke, lightning, vandalism,
theft, explosion, windstorm and water damage (not including floods).
Like homeowners insurance, renters insurance also covers your responsibility
to other people injured at your home or elsewhere by you, a family
member or your pet and pays legal defense costs if you are taken
Renters insurance covers your additional living expenses
if you are unable to live in your apartment because of a fire or
other covered peril. Most policies will reimburse you the difference
between your additional living expenses and your normal living expenses
but still may set limits as to the amount they will pay.
Do I need separate coverage for jewelry?
A standard homeowners and renters policy offers only limited coverage
for jewelry and other precious items such as watches, fine arts,
silverware, cameras, and furs. If you own property that exceeds
these limits, it is recommended that you supplement your policy
with a floater. A floater is a separate policy that provides additional
insurance for your valuables and covers them for perils not included
in your policy such as accidental loss. This provides you with broader
coverage and waives the deductible.
Scheduled Personal Property
If you own valuable jewelry, you can increase coverage by “scheduling”
your individual pieces through the purchase of “floater”
policies. Scheduling each piece may cost more in premiums, but it
offers broader protection because the floater covers losses of any
type, including accidental losses –such as dropping your ring
down the drain of the kitchen sink or leaving it in a hotel room—that
your homeowners insurance policy will not cover. Before purchasing
a floater, the items covered must be professionally appraised.
How do I take a home inventory and why?
Would you be able to remember all the possessions you’ve accumulated
over the years if they were destroyed by a fire? Having an up-to-date
home inventory will help you get your insurance claim settled faster,
verify losses for your income tax return and help you purchase the
correct amount of insurance.
Start by making a list of your possessions,
describing each item and noting where you bought it and its make
and model. Clip to your list any sales receipts, purchase contracts,
and appraisals you have. For major appliance and electronic equipment,
record their serial numbers usually found on the back or bottom.
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Copyright © 2005-2014 English Insurance Group, LLC
5005 200th ST SW, Suite 200 B, Lynnwood, WA 98036
Phone: (425) 673-7948 Fax: (425) 673-7942
IMPORTANT NOTE: This Web site provides only a simplified description
of coverages and is not a statement of contract. Coverage may not
apply in all states. For complete details of coverages, conditions,
limits and losses not covered, be sure to read the policy, including
all endorsements, or prospectus, if applicable. Please feel free to
contact us for further information.