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| *Loan,banking and credit>>>renters insurance |
How much does basic renters insurance cost a month? |
How much does basic renters insurance cost a month? When I was an agent for Farmers this was one of my best selling policies. It ran roughly $25-$35 a month depending on the options the insured desired. Make sure that no matter what type of policy you choose that it contains replacement cost coverage. This means that in the even of a loss the company will pay you to replace the lost item at the cost new, today; not the depreciated value of the property. Example... Your TV is stolen. It cost $500 when you bought it 5 years ago. The depreciated value today is $75. If you were to receive actual cash value (ACV) then you would get $75 from the company. Replacement cost... Same scenario but... That same TV, or one like it now costs $650. With replacement cost, you get the new TV. This is true for ALL of your personal property (clothes, etc...). Most policies will pay up tp 400% more than the original cost. My last suggestion to you... If you do get a policy then get your camera and take a picture of every room for each corner of the room. Take a photo of your closet with all your clothing etc... Take the photos and burn them on a disk and keep it somewhere other than your home. In the even of a total loss (think fire) then you can print out the photos to help jog your memory as to what property was lost. Most people will not recall all of their belongings and once you get the check from the company that is full and final compensation. If you suddenly remember that $500 jacket 2 months later, too bad. If your in CA, TX or AZ I can recommend a couple of good insurance agents who can assit you. Kevin 866-562-6838 x 106 kruorock@firstratelending.com Source(s): Loan Officer, Mortgage Specialist You can get a discount from your car insurance carrier so that's the first step... ask them. Renter insurance is fairly cheap but not all policies are the same. Make sure to have a record of all possessions and value. If something happens to property, you get the value of the item at the time of loss or theft not usually the replacement value for a new equal. Read the fine print. Go with a higher deductible because it's not worth filing a claim for under that amount. It is only about $2 or so a month through Allstate for me. Depends on the value of your items. $10-20 per month. But, if you have car insurance, and get it from the same agent, the discount you'll get on your auto policy makes the renter's almost free. Even without any other "multi-line" discounts, it's very very cheap. roughly $300 a year but it depends on how much u would like to insure |
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