If you’re a college student renting an apartment or a house while you’re at school you need to have renters insurance to protect your personal property, and to protect you from a lawsuit if someone were to hurt themselves in your residence and sue you. Here’s how to get cheap renters insurance for college students.

What does renters insurance cover?

Your personal property – Renters insurance will pay to replace your personal property – clothing, computer, electronics, furniture, textbooks, etc. – when they’re damaged or destroyed by fire, vandalism, plumbing leaks, explosions, or acts of nature.

Personal liability – Renters insurance will pay for medical expenses and legal fees when you unintentionally injure someone, or they’re injured in your residence.

Additional living expenses – Renters insurance will pay for your additional living expenses, such as hotel, motel, or restaurant bills, when you’re residence is being repaired because of a fire, vandalism, plumbing leaks, explosions, or acts of nature.

How much does renters insurance cost?

Renters insurance is relatively cheap for what it covers. A basic renters insurance policy costs anywhere from $15 to $20 a month for $20,000 worth of personal property coverage plus $100,000 worth of liability coverage.

Where can I get cheap renters insurance?

In order to get cheap renters insurance you need to compare rates from a number of different companies. Thanks to the Internet you no longer have to call local insurance agents to get rate quotes. You can now go to an insurance comparison website, spend a few minute filling out a simple form with your insurance information, and get rate quotes from multiple insurance companies. Once you get your quotes you can compare them and choose the cheapest one.

Shop and Compare multiple Home-Renters Insurance quotes for free.

Technorati Tags: apartment insurance, apartment renters insurance, cheap renters insurance, insurance for college students, online renters insurance quote

Renter’s insurance is an effective means of guaranteeing that you will not loose the dollar value of your personal property from theft, fire, or other covered damage when you rent an apartment or house. It is a means of financially protecting yourself that is inexpensive and very practical. Of course, your landlord will have insurance to protect himself from damage to the structure of the building in which you reside. However, your landlord’s insurance will not protect your personal property.

Liability Coverage

But there is a more serious side to renters insurance.

Renters insurance is also liability insurance that protects you from lawsuits from visitors that may injure themselves while in your rented apartment or house. In some parts of the country, landlords may require their tenants to have renters insurance prior to renting or leasing an apartment or house. This is primarily to protect the landlord from the possibility of a liability lawsuit resulting from an accident inside your apartment or house.

If you are a new renter, and your landlord does not require you to carry renters insurance, perhaps you are wondering if you really need it.

Renters Insurance Quotes

In my experience, the answer is always yes, for one very important reason. It is because of the liability coverage. Bringing visitors into your home without having liability insurance is irresponsible. Any accident can be serious and you would be solely legally responsible for all expenses related to the injury. “All expenses” not only include medical expenses, but legal fees and any settlement awarded by a court of law. This could destroy your finances for many years to come, for you could be under court order to make monthly payments for decades. It’s horrible to think about, but believe me, this does happen.

How To Get It

To obtain renters insurance you will want to get some renters insurance quotes. These are from an online service. However, you should also get a quote from your own insurance agent. If you have other insurance such as a car insurance policy, you agent may be able to get a reduced premium (price) from the same company that insures your car. However, you need to check around and get several quotes, another company may be cheaper.

My advice is to get renters insurance before moving into a new rented apartment of house, and be glad darn it is so inexpensive.

Technorati Tags: liability insurance, Renters Insurance, renters insurance quotes

Do I really need renters insurance? Landlord’s insurance doesn’t cover renters belonging. Landlord’s insurance only covers the building that you live in; there is no coverage for your personal belonging. Most renters insurance offers full coverage to protect your possessions from flooding, fire, theft, vandalism and many other types of risk. Therefore, it is advisable to have a separate renters insurance to protect your belongings from damages and losses. Renters insurance even claims for the injuries caused to the people who visit your home.

Renters Insurance Coverage There are three kind of coverage provided with renters insurance: • Renters insurance covers all your possessions from various disasters. It claims your possessions from damages or loses like fire, theft, accident, vandalism, windstorm, etc. Renters insurance doesn’t cover damage caused by earthquakes or floods. If you live in the places where regular floods or earthquakes occur, then you need additional insurance to cover those disasters. There are also limits on coverage for expensive items like jewelry, silverware and antiques. • Loss-of-use coverage. If your residence becomes unlivable for any reason, most renters insurance will allow additional living expenses. Meaning that your insurance will pay for your hotel room and any others expense you may have if your residence become unlivable. • Personal liability coverage. It will protect you in the event that you are sued due to an injury incurred by someone while visiting your place. It also covers related damage and relevant legal costs. The minimum for such renter’s insurance policy is usually $100,000 and will cover injuries or damage that is occurs while at your place or that is caused by you, your family or your pets.

How much coverage do I need? You need enough personal property coverage to pay for all your possessions if they are destroyed, and enough liability insurance to cover all your assets if you’re sued. It’s a good idea to make a list of all of your possessions when purchasing renters insurance. On this list you should make note of the prices you paid for the items or their replacement cost and use the total value as your coverage amount. The total your assets (bank accounts, stocks, bonds, etc) and make sure you have enough coverage to protect them.

Renters Insurance Cost. Renters insurance is actually inexpensive, especially if compared with homeowners insurance. The cost of your renter’s insurance coverage depends on many factors, like the place you live, your insurance company, your deductible, etc. It can cost as little as $16 a month for $20,000 worth of personal belongings coverage and $300,000 liability coverage. Your insurance company may offer a discount if you put safety measures like fire alarms, fire extinguishers or burglar alarms in your residence.

There are many online insurance website where you get various quotes from various insurance companies. However, the best place to get inexpensive renters insurance is at online insurance comparison website. You will get quotes from different companies by filling out a questionnaire with information about your residence and the amount of insurance you want. This even allows you to talk with professionals online and get answers to your questions.

About the Author

Liza Arwati: all-4-home.net provides information on homeowners insurance and renters insurance related topics, including the best tips and mortgage.

Technorati Tags: apartment renters insur, home renters insurance, nationwide renters insurance, online renters insurance quote, Renters Insurance, renters insurance online, renters insurance quote, renters property insurance