January 20, 2010
One of the most common causes of damage and home insurance claims is home fires. While most policies cover fire damage, it doesn’t do much good if the homeowner or renter doesn’t invest in the right insurance policy. Renters, in particular, are more likely to neglect purchasing insurance to financially protect themselves. A new article by InsuranceAgents.com discourages renters from thinking that, just because they don’t own the structure, that they don’t need insurance.
Renters insurance is much cheaper than homeowners insurance, yet may renters fail to obtain a policy. And that mistake could cost you a lot of money out of your own pocket.
“[I]f your rented residence were to fall victim to a fire and your personal belongings were ruined or damaged, you would not be covered without a renters insurance policy,” according to the InsuranceAgents.com article, ‘Renters Insurance In Case of a Fire.’
Everyone is susceptible to a fire in their home, even renters. But to help keep the likelihood of a fire in your rented space down to a minimum, consider the following tips:
• Install smoke detectors – Not only will smoke detectors reduce the likelihood of an out-of-control fire, it will also reduce your renters insurance premium.
• Keep fire extinguishers handy – Like detectors, this will also help reduce your renters insurance premium
• Don’t smoke – Non smokers are usually offered the lowest renters insurance quotes. Also, smoking increases the chances of a fire in your rented space significantly.
Most renters insurance policies are inexpensive, but the lowest prices can usually be found by shopping online and comparing several renters insurance quotes.
“It is important you have renters insurance because if you don’t and your personal contents are damaged then you will be responsible for replacing them out-of-pocket,” according to the InsuranceAgents.com article.
