Not yet registered? Create a OverBlog!

Create my blog

A guide to tenants insurance

Many people think that if they do not own a property, there is no need for them to take an insurance as it is the landlord’s responsibility. This is, however, not the case because tenants should also take out an insurance to protect their personal property and liability to third parties. Landlords are not responsible for tenants personal losses.

Why take out tenants insurance?

Reasons for taking a tenant insurance This might seem like an unnecessary expense but there are many reasons why you should consider buying it. There are many risks which you can face as a tenant. Risks include break-in and theft of valuable items like jewelleries and other personal effects. If your visitor suffers an injury whilst being at your property, a tenant insurance policy will pay for the legal and medical costs.
What exactly is covered? Your tenants’ policy will replace your personal possessions in the event of theft. This can either be paid as a cash value amount (current market value) or as a replacement cost cover (replaces the item less the agreed excess). The second option is a bit expensive. Liability cover Rent insurance will also provide cover to third parties if they get injured whilst being at your rented property. For example, a visitor can triple over an electric wire and get hurt.The insurance policy will pay for medical expenses as well as any litigation costs. It will also cover third party property damage.

Unlivable premises

Sometimes, the rented property can become unliveable especially when there are repairs and construction work being done on the property. A tenants policy will provide alternative accommodation for a reasonable time period, the maximum being twelve months.
Buying tenants insurance When you decide to buy this type of insurance, make sure that your coverage is adequate. You can do a comprehensive search on the internet where you can also compare quotes. Instead of buying replacement cost coverage which is a bit expensive, it is a good idea to choose the actual cash value option. You can also increase your excess in order to reduce your tenants insurance. There are many service providers offering this type of insurance. You simply need to search online and choose the provider with the best terms and offer.

Same category articles Insurance

An introduction to SBI life insurance

An introduction to SBI life insurance

SBI life Insurance is an Indian private bank, and along with its five associate banks, offer a wide variety of life insurance products,Moreover, it has branches all over the country. It was formed as a result of a merger between a French Insurance Company and the State-Bank of India and its aim is to offer life insurance and pension services to its clients.This article provides some information about SBI.life insurance.
MEGA Life and Health Insurance: The facts

MEGA Life and Health Insurance: The facts

HealthMarkets, Inc. is an American provider of life and health insurance products. It carries out its activities through its subsidiaries, The Chesapeake Life Insurance Company, The Mid-West National Life Insurance Company of Tennessee and the MEGA Life and Health Insurance Company. HealthMarkets, Inc. is a controversial company, although it was rated in 2006 as a Fortune 1000 company. The company was under investigation for illegal practices which resulted in 20 million dollars of fines.
All about: Gap year insurance

All about: Gap year insurance

Taking a gap year can be an exciting and rewarding experience, but the best laid plans could be wrecked if you lose your luggage or require medical treatment. It’s important to take the time to organise gap year insurance to ensure that you are covered for any potential mishaps. Read this article to learn more about gap year insurance.
Where to get term life quotes

Where to get term life quotes

With the coming of online life insurance supermarkets in the last few years, it is now possible to get your term life quotes instantly. You only need to have the required information with you before you can start your search. The most effective and reliable way of getting a competitive quote is by using the internet. There are many websites from where you can get term life quotes.