How To Rent Insurance

Would You Gamble and
Go Without Renters' Insurance?

You've moved into a nice rental property and you think you're finally going to be happy there. One question, do you have renters' insurance?

Many people make the mistake of residing somewhere and assuming that their landlord has their back when it comes to their property and protecting them in the event someone is injured while visiting the property. So at the end of the day, ask yourself if you could replace everything that you own should it be lost due to a natural disaster or theft? If someone were injured on your property, could you withstand the legal costs that likely would ensue with a lawsuit?. Valuable items like your computer, DVD player, television, jewelry, furniture and more could not likely be replaced if you were without renters' insurance. Are you ready to gamble with that idea? As a renter, keep in mind that you are in danger of losing your belongings as a result of vandalism, fire, water damage, smoke and other perils. Experts will tell you that the top reason most people do not opt for renters' insurance is that they think their landlord is responsible for their possessions when you are living in someone else's property. Wrong. As most experts will tell you, a landlord's insurance covers the building along with the infrastructure of that residence. That can include the air conditioning, elevators and/or the structure itself. The coverage does not extend into the home of the individual tenants and the possessions they keep in their units.

Which Coverage is the Way to Go?

As you look into which kinds of enters' insurance coverage are best for you, take note that the two types of coverage are replacement cost and actual cash value. Actual cash value is less expensive, and under this protection, your possessions are value following depreciation. This means that the insurer will take into consideration the condition and age of the stolen or damaged property. With a replacement cost policy, the insurer will pay you to replace your property with the same or likewise item at the current market price. As an example, if you purchased a laptop computer several years ago for $700, it would be worth less in value at this time. However, it would cost you that amount (or more) to purchase a new laptop. The insurer will only pay for what the old one was worth, minus the deductible under a cash value policy. When it comes to a replacement policy, the insurer would issue you an advanced payment for the used value of the property, minus your deductible, and then reimburse you the actual price you pay when you replace the property. When it comes to your deductible, the higher that amount is, the lower your premium will be. According to some financial experts, it is good to get a $1,000 deductible. Should you install protective items for the residence such as burglar alarms, fire extinguishers or fire detectors, you can reduce your premium.

Avoiding Disputes with Insurers

Finally, in order to stay away from disputes with your insurer, take an inventory of your personal belongings prior to buying rental insurance. A good way to do this is by videotaping or photographing each portion of the home you're renting. Also remember to retain any receipts for major purchases you've made. Keep these receipts in a safety deposit box or a fireproof safe. Due to the fact that renters' insurance is typically inexpensive, you can find good deals that will provide you with the necessary coverage. Go online and shop for multiple quotes in order to position yourself for the best renters' insurance policy available.

Reasons For Insurance

I Don't Need Renters' Insurance......Think Again!

One statistic claims that 87 million Americans who rent do not possess renters' insurance. That is not only a large number of individuals; imagine the dollars lost when tragedy strikes their rental property in the form of a natural disaster or theft. Even a guest being injured on the property can lead to a financial nightmare.

Reasons for Not Having Renters' Insurance

The reasons people will provide for not having renters' insurance can range from not having the money, to thinking they did not need it to claiming their dog ate the paperwork, Okay, the last one may be a stretch....but you get the idea. When you dig down to the bottom of why many people do not carry renters' insurance, you will find that the main reason is that they incorrectly believe that their landlord is protecting them and it is a waste of money. Once again....wrong!

For individuals pinching pennies these days, don't be mislead into thinking that renters' insurance is too expensive for you. Some renters can acquire the needed coverage for as little as 50 cents a day, dependent on the total value of their household. In all likelihood, coverage for an entire year will run in the area of $200 a year....is a little more or little less depending on the circumstances involved. While price can be a misconception when it comes to renters' insurance so too can be the idea that one's stuff is not worth enough to warrant coverage. Renters should look at the big picture and realize that their possessions can add up quickly in value. Even if the items you own were purchased second-hand, they can escalate in price and losing them to a natural disaster or theft could lead to major financial challenges in order to replace them.

Shopping for Renters' Insurance

One of the best ways to avert this problem is by shopping for renters' insurance and securing multiple quotes in order to secure the best deal possible. While other forms of insurance can take time to purchase, acquiring renters' insurance can be done in a short period of time and with little hassle. As you look at the price of renters' insurance, the main factor driving cost will usually be the amount of coverage you're purchasing, where you reside and any applicable discounts you could be entitled to, based on how old you are or the fact that you have other coverages with the same insurer. Keep in mind that even with renters' insurance, there will be some exclusions that kick in even when there is a loss. Generally, those exclusions are the same as those impacting homeowners, meaning policies will not cover things such as earthquakes or floods. Those events will necessitate separate policies. At the end of the day, getting multiple quotes and working with an agent are great roads to travel. An experienced agent can be a great source in helping you determine the amount of coverage you need and assisting you to locate the best deal. Whether working with an agent or not, be sure to read the fine print and do not be afraid to ask questions regarding renters' insurance.

Managed Care

Managed Care Opportunities for Coverage

When you look into managed care possibilities for health insurance, note that there are three basic types of this offering - PPOs, POS, and HMOs. All have their advantages and disadvantages, so be sure to thoroughly review them by yourself or with your insurance agent to make the best choice for you. An important factor for many individuals in search of health insurance is whether or not their projected plan covers prescription drugs. A number of plans have tiered benefit systems, and typically offer a preferred list of prescriptions that have offer lower co-pays. Be sure to look for any medication you are taking on this list; drugs not on the list can have a co-pay that is two times as high. Another thing to look into is if any plans limit the amounts of new prescriptions or refills for a given drug. Finally, look into whether your regular physicians are members of your plan's preferred provider list. All plans offer a database with their provider list on their web site. Opt for a plan that lists the majority of or all of your regular doctors. Take note that many PPOs will pay up to 20 percent less for out-of-network doctors. The best advice is to shop around, call a number of agents and find the most coverage at the best price.

Risks Involved

Risks Involved with Not Having Health Insurance

Taking a chance on not having health insurance is a gamble you do not want to take. Given today's high costs of medicines and hospital visits, one could see their savings quickly obliterated.

In order to be properly covered when it comes to health insurance, there are a number of avenues you can travel to protect yourself. Getting health insurance with your employer is oftentimes the best road to travel, but if you're without a job, that becomes much more difficult. If that's the case, search for your own insurance to be properly covered. If you recently left your employer, look into COBRA (Consolidated Omnibus Reconciliation Act of 1985). Through COBRA an individual can extend their coverage for a year and a half beyond their parting date, though they will be responsible for the premium. As you begin your search for health insurance, finding an agent to help you compare plans and costs is a great way to go. One of the options that may interest you is a fee-for-service plan. The major advantage to this type of plan is that you determine which doctor to see and also when it is necessary to visit a specialist. The one thing to keep in mind with a fee-for-service plan is that there is a major out-of-pocket cost for this type of care. In most cases, the premiums are typically higher, and should your doctor charge more than what is generally considered customary, you could have to spend more money.

US Insurance Reforms

Both the House and Senate versions of health insurance reform rest upon the following building blocks:

Insurance reforms to protect consumers from insurance company worst-practices – like denying coverage based on pre-existing conditions, capping total coverage, and dropping or watering down coverage when you get sick and need it most. Consumer protections that will restrict how much of your premium dollars insurance companies can spend on marketing, profits, and salaries. Creation of a health exchange to increase consumer choice and guarantee coverage. Affordable health options, with subsidies for working families and a hardship waiver. Tax credits to help small businesses afford coverage. Making preventive care completely free – with no co-payments or deductibles. Lowering the cost of health care for our seniors. Improving the quality and extending the life of Medicare. Ensuring that reform is not only fully paid for, but actually significantly reduces the federal deficit

Thanks to: www.barackobama.com/issues/healthcare

US Health Insurance

Obama hits the road to sell health care overhaul

Barack Obama’s journey to reform America’s health care system comes full circle Thursday as he returns to the place where he launched his ideas. Three years ago, Obama began his crusade with a memorable speech focusing on health care that was delivered in Iowa City, Iowa, the state that holds the first presidential caucus in an election year. The president will speak on the freshly signed law at the University of Iowa in the afternoon, his first event since the historic passage of the landmark legislation. Obama’s speech is part of a White House plan to begin aggressively selling the benefits of his health care overhaul and give some political cover to Democratic lawmakers jittery about their political futures, according to Democratic officials familiar with the plans. Obama is expected to make many such trips in the weeks ahead, following up on promises to push back on Republican attacks in the months leading up to the November mid-term elections, the officials said. They spoke on condition of anonymity because they are not authorized to publicly discuss the emerging White House strategy.

Post by: The CNN Wire