For many homeowners, deciding when to take advantage of your homeowner's insurance policy can be a struggle. You pay a premium to have the insurance and protect yourself against potential major financial issues, so it seems obvious that claims should be filed in most cases.
However, even if the total value of your personal property is only in the hundreds of dollars, having a renter's insurance policy could still be very beneficial. It may only cost you $500 to replace your television, but your personal liability really has no limits. Theoretically, a guest in your rental house or apartment could trip on your coffee table, fall and sue you for $100,000. If you have a renter's insurance policy, your insurance company will help cover at least some of your costs.
Another great benefit of renters insurance is that you don't have the responsibility of collecting money from someone else if they cause the damage to the apartment or home that your renting. Let's say your apartment flooded after your upstairs neighbor left the bathtub running.
Legally, he is responsible for the losses you incurred, but that does not mean he will be willing to pay you (similar to an accident with an uninsured motorist). If you do not have renters insurance, you may have to hound him to pony up. However, if you do have renters insurance, all you have to do is file a claim with your insurance company. They will cover the damages as outline in your policy, then go after your neighbor for reimbursement of those funds.
Let's say you do have a renter's insurance policy. What do you do when an incident occurs (like a flood or fire). The first thing to do is contact your insurance company. Some have an after hours number to call, or some might encourage you to call your agent directly. If it's applicable, you should involve the police. This is especially important in the case of theft or vandalism.
The next step is easy, especially because we all seem to have smartphones. Take photos and video of the damage and losses. This will be great evidence to have for the insurance company. Read over your policy so you make sure you understand what your rights are and what you are entitled to. This next step takes a little time, but is worth it: itemize your property.
Some insurance companies may deny certain claims. This is why understanding the terms outlined in your policy and contacting your agent is very important. The more you understand your policy, the better chance you will have at understanding what is covered and what is not. That can save you the hassle of filing a claim that is going to get denied anyway.
CNC Insurance offers all types of insurance. If you are in the Frisco area and need renter's insurance or any other type of policy, give us a call today.
However, even if the total value of your personal property is only in the hundreds of dollars, having a renter's insurance policy could still be very beneficial. It may only cost you $500 to replace your television, but your personal liability really has no limits. Theoretically, a guest in your rental house or apartment could trip on your coffee table, fall and sue you for $100,000. If you have a renter's insurance policy, your insurance company will help cover at least some of your costs.
Another great benefit of renters insurance is that you don't have the responsibility of collecting money from someone else if they cause the damage to the apartment or home that your renting. Let's say your apartment flooded after your upstairs neighbor left the bathtub running.
Legally, he is responsible for the losses you incurred, but that does not mean he will be willing to pay you (similar to an accident with an uninsured motorist). If you do not have renters insurance, you may have to hound him to pony up. However, if you do have renters insurance, all you have to do is file a claim with your insurance company. They will cover the damages as outline in your policy, then go after your neighbor for reimbursement of those funds.
Let's say you do have a renter's insurance policy. What do you do when an incident occurs (like a flood or fire). The first thing to do is contact your insurance company. Some have an after hours number to call, or some might encourage you to call your agent directly. If it's applicable, you should involve the police. This is especially important in the case of theft or vandalism.
The next step is easy, especially because we all seem to have smartphones. Take photos and video of the damage and losses. This will be great evidence to have for the insurance company. Read over your policy so you make sure you understand what your rights are and what you are entitled to. This next step takes a little time, but is worth it: itemize your property.
Some insurance companies may deny certain claims. This is why understanding the terms outlined in your policy and contacting your agent is very important. The more you understand your policy, the better chance you will have at understanding what is covered and what is not. That can save you the hassle of filing a claim that is going to get denied anyway.
CNC Insurance offers all types of insurance. If you are in the Frisco area and need renter's insurance or any other type of policy, give us a call today.
About the Author:
CNC Insurance Brokerage Services is in the business of covering every aspect of your life with quality and affordable insurance coverage. CNC offers you a central hub for yourauto insurance , homeowners, life, renters and every other insurance need you have. CNC services families and businesses in Frisco, Dallas, Plano, McKinney, and their surrounding communities. We pride ourselves in giving you the best bang for your buck. We go to work to protect your assets for you at a price that fits your budget.
Tidak ada komentar:
Posting Komentar