Archive for the ‘Renters Insurance’ Category
Renters insurance is for those people who do not own their homes but rent them. It is designed to protect the renterâ€™s belongings in the event of a fire, theft, broken water pipes or other disaster. It is similar to home owners insurance except that it does not cover the structure. The landlordâ€™s insurance likely covers only the structure and not the tenantâ€™s things.
Policies are varied and can be designed for the renterâ€™s individual needs. They range widely in price and some are only a few dollars a month. Naturally, if you have items of great value, it is wise to purchase a more comprehensive and expensive policy after taking a thorough inventory of your goods. Typically, the premiums increase every year to reflect the increasing cost of replacing possessions. Deductibles vary and the renter determines how much he is willing to pay in the event of a covered loss. Deductibles may range from hundreds to thousands of dollars. Usually, choosing a higher deductible means paying a lower premium.
Some policies cover your belongings and also offer personal liability protection. This means that if a visitor gets hurt at your home, her medical expenses may be covered. You may also be covered in the event that you cause accidental damage to someone elseâ€™s home. If you are forced out of your home because it is destroyed by fire, smoke or water, some rentersâ€™ insurance companies cover the cost of temporary housing while your home is being repaired or until you find a new one.
Most people remember to include their expensive jewelry and firearms in their homeowner’s insurance or renter’s insurance policy, but they often forget to insure other expensive items that may be stolen from their home or damaged in a flood or fire. Designer shoes should be included in a homeowner’s insurance policy so that they policy holder will be repaid if something should happen to their expensive footwear.
Collecting designer shoes can be an expensive hobbyÂ - depending on how expansive someone’s collection is. are a significant investment. I know of some women with more high heels than they could ever need. A pair of Christian Louboutin boots can easily cost $1500 or more, Stuart Weitzman pumps are around $500 a pair, and Manolo Blahnik heels usually cost more than $1,000. It would be heartbreaking for a woman to lose that kind of investment. According to some fashion shoe blogs, even women who don’t have the money to spend hundreds on a single pair of designer shoes are likely to have a shoe collection that is worth more than five thousand dollars total. An insurance policy cannot replace the sentimental value that many women place on their shoes, but it gives the insured person the money to replace the shoes that have been stolen or damaged. Shoe shopping after a disaster can be very therapeutic.
It is a good idea for renters and homeowners to talk to their insurance agent about adding coverage for the expensive items in their home such as shoes. Many insurance companies give renters or homeowners the option of choosing to insure their items for either the amount of money they originally paid for their items or the amount of money it would cost to replace the items at the time they need to be replaced. A good insurance company is likely to want a detailed description of each item as well as several pictures of the item.