In its basic form, it protects your most important "stuff."
Think of it this way – if you took your house and turned it upside down, all the "stuff" that falls out is yours. The policy will pay you to reimburse your "things" that are damaged in the event of a covered loss.
Fire is not the only terrible thing that can destroy your "stuff." Here are four other situations we bet you've never thought of, but happen a lot:
· Frozen pipes burst and destroy your "stuff".
· A tree hits the ceiling, breaks through a hole and heavy rains suck your "stuff".
· Hot water tanks explode and you get a nice accumulation of water on the apartment floor. Oh wait, some of your most important "stuff" was on the floor.
· A burglar breaks in and takes your "stuff".
· Lightning strikes, wipe out all your electronic "stuff".
Besides my "stuff", what do the insurance cover?
Additional Living Costs
An important part of rental insurance is called Additional Living Costs. Let's say you have a fire in your apartment and you need to move somewhere else while repairs are being carried out. The policy pays for extra living expenses in addition to your normal expenses (difference in rent between your temporary place and former apartment, increased costs for laundry or meals outside, for example). How helpful would that be?
The policy also includes liability insurance, so if someone is injured with you and it is your fault, the policy would pay for medical bills. It also provides and pays for a lawyer if you are sued.
What is an average premium?
In our little corner of Ohio, we see premiums averaging about $ 200 a year, for about $ 25,000 "stuff." That's about 55 cents a day .
What determines my insurance premium for Ohio tenants?
Here are some examples:
- Location – the farther away from the fire brigade you are, the more likely your "stuff" will burn up before the fire brigade can get there. So the premium is more.
- Insurance points – this is a combination of several items, including credit history. Insurance companies have found a correlation between lower insurance earnings and the frequency and severity of paid claims – so people with lower insurance results pay higher premiums.
- The availability of discounts – for example, if you buy a car and rental policy from the same company, you get a multi-policy discount. We have found that the amount of the rebate practically pays for the tenant's policy.
Moral of History
Yes, you may be willing to play on the generosity of family, friends and maybe even strangers and charities for temporary housing and clothing, but how long will it last? We know that charity groups can in most cases offer a few days of clothing, some meals and temporary accommodation. Your friends and family might make you a little longer.
But how long before it gets old? And your living conditions become cramped and unpleasant? And are you basically tearing up your welcome? An Ohio rental insurance prevents the situation from ever happening. It provides the immediate needs and initiates long-term plans. It ensures that you do not care about those you love and begins the process of putting your life back on track. For 55 cents a day.
We can help. Call us or request your Ohio rental insurance quote NOW . We help protect your "stuff" (and anything else you need help with)!