Do Renters Need Insurance?
I have seen several stories on the news, and heard personal stories from people I know, that reinforced my belief that renters should have proper coverage on their personal property. They should also be covered in case they cannot live in their rented homes in case of damage.
- Several renters were affected by a recent storm. Many sections of their apartment complex were damaged by a recent storm, and the landlord had no vacant apartments to relocate these people. A good renters insurance policy would have provide them with money and even advice to find a place to stay while their apartments were being repaired.
- These people also lost furniture, clothes and appliances because of the storm damage. Renters insurance would have helped them replace their personal property. The contents of their home would have been covered.
- I have a good friend who lived in an apartment. After a break in, she lost her stereo and thousands of dollars worth of recordings that she had accumulated over the last few decades. If she had been covered, she could have made a claim to replace her valuables. But since she did not have a home contents insurance policy, she had to suffer the loss. You might argue that this collection was not essential, and her situation was not as bad as the people who had lost their homes and clothes, but she did lose a great source of enjoyment.
The Importance of Covering Home Contents
The contents of our homes can be worth many thousands of dollars. Sometimes we do not think about it because we built it up over a period of years. You probably did not buy your sofa and your engagement ring on the same day. But over a period of years, and even decades, you probably have accumulated some property that would cost a fortune to replace!
The Importance of Relocation
Have you ever thought about your emergency plan in case you could not live in your home. I have known many people who had to find temporary housing because their home was damaged. Even if you rent, you would have to pay a mover, put down a deposit, or pay for a motel room. In my own experience, this can add up to thousands of dollars.
Relocation will probably cause other disruption too. Will your kids have to change schools? Will it be harder for you to get to work? Could you lose some supplies or equipment you need to do your job. These losses can be financial disasters..
Renters Insurance Policies
A good policy should be an affordable way to protect yourself.
- Home Contents Insurance - Protect your valuables, furniture, clothes, electronics, and appliances. Just take a moment to think about how much money you would need to replace your tv, computer, microwave, and wedding ring.
- Relocation - If you lost your house or apartment, where would you go? How much money would it cost to move?
- Liability - In today's society, you must consider the potential for a lawsuit. If somebody claims they are injured, their property is damaged, or the home is damaged, because of you, how would you defend yourself?
These type of policies are actually very inexpensive. Of course the cost will depend upon how much coverage you think you need and where you live. But many people are surprised because they can find really cheap renters insurance.
In fact, I heard a comment from my friend who lost her music and stereo. Later, she mentioned that she could have been covered for the price of one restaurant meal a month. It would have been a very small price to pay for the security of a good policy.
How to Find Renters Insurance. We want to help you find affordable home contents insurance. Find the top rated home insurance companies in your city or town.
Filed under Home Insurance by on Jun 8th, 2010. Comment. 
In this time of tough economic turmoil many people are looking for ways to earn more money or make their money stretch. There are people out of work, hours have been cut back, or no hopes of raises in the future. But, regardless of what is going on around us, we still have to pay our bills and live from one day to the next. So, many people are looking for options to make their current budgets stretch a little farther.
This article is going to explore the process of creating a good budget in 3 steps: listing your expenses, estimating your expenditures, and monitoring your progress.
Step 1: Listing Your Expenses
The first step is to take a look at your current expenses and bills. Write down everything that you spend money on: rent/mortgage, utility bills, cable, internet, phone, groceries, eating out, car payment, insurance, gas, etc, etc. Think of every single thing that you would possibly spend money on and put it on your list. Even if it seems trivial (such as coffee in the mornings) you still need to write it down in order to be successful with your budget-- those little things can really add up fast!
Step 2: Estimating Your Expenditures
Take a look at your history of spending over the past few months and list out all of the money that you have spent. Categorize everything into the expenses line items so that you can see exactly how much you are spending on each thing. Then start tracking your spending everything write down EVERYTHING that you buy... even if it's just $.50 for a candy bar from the vending machine.
Step 3: Monitoring Your Progress
Compare your spending to your budget and see if you are staying within your spending limits. You will find that there are some areas where you are spending too much money, so you may consider cutting back or watching your spending. Analyze what is working and what isn't working, and then make changes and adjustments as needed.
The most important thing is that you are spending less than what you are earning. As you track your budget you will soon be able to figure out where to cut back on expenses and that extra money can be put in your savings account!
Matt has been an online writer for nearly 2 years now. Not only does this author specialize in health, finance, and product reviews, you can also check out his latest website on Canon VIXIA HF200 which reviews and lists the best Canon HF200 Camcorder for your home video recording needs.
Filed under Home Insurance by on May 5th, 2010. Comment.