Renters Insurance

Renters Insurance Articles

Founded in 1968 by James David Power, JD Power and Associates is a consumer ratings company which provides product, service, and overall company ratings in fields ranging from automobiles to travel. Rather than performing independent surveys, JD Power and Associates accumulate consumer reviews and ratings, organized into facets describing the rating. For example, the JD Power and Associates page for insurance company ratings provides 4 categories or ratings, plus a fifth category for the overall score.
Standard and Poor's (S&P) Insurance Company Ratings Explained
Standard & Poor's Company provides ratings for insurance companies to help you choose the best company for your needs and avoid potential losses if the company you purchase a policy from should become insolvent. Standard and Poor's ratings cannot prevent bad things from happening as a result of your insurance choices, but they can at least give you some insight to help make a better, more informed decision. To insure their ratings are accurate and trustworthy, the Standard and Poor's ratings are designated by a team of financial analysts who look at a range of credit criteria before issuing a rating.
Flood Insurance for Renters
Renters insurance is "contents-only" insurance, which means that it covers the same perils covered by a standard homeowners policy, except that it does not pay for repairs or replacement of any permanent structures. Homeowners policies, renters insurance included, do not provide flood coverage by default. In most circumstances, you will only be able to get flood insurance through national programs such as the National Flood Insurance Program.
AM Best Ratings Explained
The A.M. Best Company is one of the leading insurance and financial company ratings firms. The company uses a standard grading scale to provide consumers with information about the stability and long term financial outlook of financial companies. At a glance, someone who is comparing prices of different insurance companies can know whether they are dealing with a company that is in dire straits, is making a comeback from a financial blow, or is riding on top of the heap. Here is the grading scale used by A.M. Best Company, and what the grades mean to you.
What is Renter's Insurance?
If you do not own your home, you probably do not have to insure the dwelling and other structures, but you still need insurance for your own property. There is a special type of home insurance available for renters, designed to protect the things that are important to you without the added expense of insuring things that are not your concern.
Improving Your Credit Score Can Lower Insurance Costs
Your credit score plays an important part in determining what your rates will be for insurance policies. In many ways, insurance is like a line of credit, and your credit score is the indicator used to show how well you manage the different lines. By repairing your credit score, you open up possibilities for savings in all types of insurance, not to mention improving your ability to qualify for loans or other lines of credit.
Renters Insurance Protects Against Theft
If you live in an area with a high crime rate, insuring your property against burglary and theft may be the only method available to fully protect your family. And even if the location is not well-known for crime, you could be targeted by someone who, for instance, saw you bringing in that new big screen Renters insurance protects against theft, but you need to have the right coverage for your specific requirements.
Does Your Insurance Agent Have Your Best Interests in Mind?
If you are serious about your insurance needs, you should probably speak with an agent directly over the phone rather than by just looking at your computer screen. But it is important to have an agent who cares about your needs and has the knowledge and resources to get you the policies you should have at a price you can afford. Here are a few tips to help you know whether your agent is on your side, or whether it is time to shop around for another solution.
Why Renters Need Insurance
If you rent, your insurance needs are different than if you are a homeowner. Renters and condo insurance policies are designed specifically for those who do not have any insurable interest in the structures but do have property that needs to be properly insured against disaster.
Switching Insurance Companies When You Have an Open Claim
You have the right to switch insurance companies any time you want. Even if you have an open claim with another insurance company, you can elect to switch your coverage. Keep in mind that your current claim will not transfer to the new insurance company, though, and your old insurer will still be the one that handles the claim until it is either settled or completely denied coverage.

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Renters Insurance Quotes Online

When you're renting an apartment or house, you want to ensure that your belongings are protected against theft, fire and other events. Getting rental insurance is the first step in having the protection every renter needs. Renters insurance is similar to homeowners insurance, except that it does not cover the dwelling, other structures, and liability related to the those structures. This allows people who rent homes to insure their possessions and have the liability insurance necessary for any claims against them that is not covered by the landlord's insurance. Without renters insurance, you are gambling everything you own against the perils of life, and that is not a chance you need to take.

When you rent a home, the insurance policy of the homeowner does not extend to your personal belongings. For that, you need to have renters insurance designed specifically for your family's needs. Renters insurance covers your family's clothing, appliances, furniture, tools, recreational equipment, and protects you against lawsuits in the event someone in your family accidentally knock s baseball over the fence and through a neighbor's window.

Finding cheap renters insurance rates is a lot easier if you start with online renters insurance quotes. Getting quotes online will allow you to design a custom policy, and then compare the rates for coverage between several leading insurers. This means you can use one form to find out what your rates would be from a number of companies, and that translates into saving time and money.

Keep in mind that not all insurance companies are3 the same. Even when a company offers the lowest rates, the coverage you receive may not be as good as with another company. To make sure that you are getting the best deal from a reputable company, be sure to check the financial rating of potential insurers before you take out a policy. The A.M. Best Company is one such ratings company, providing the public with a simple Letter grade that describes the financial stability of the company. You can also read insurance company reviews to see how a company's customers rate the insurance company.