No. A landlord’s homeowner’s insurance will not cover damage to your possessions or property, that’s why you must get renter’s insurance. Let’s say a burglar breaks the window into your apartment and steals your television. The broken window is covered by your landlord’s insurance and the stolen television is covered by your renter’s insurance, if [...]
Anyone who lives in a community that participates in the National Flood Insurance Program is eligible to purchase flood insurance. The notable exception is those homes in an area designated as a Coastal Barrier Resources System because in 1982 the United States Congress passed an act meant to discourage building in those fragile coastal areas [...]
If you’ve read my past article about keeping a home contents inventory, you’ll know how important that small aspect of your insurance plan truly is. However, taking an inventory of all the contents of your home once isn’t enough, it’s important to update it at least quarterly. I’m not saying that you should take photos [...]
A new national survey by Trusted Choice revealed at nearly twenty-five million families (of a total 35 million homes rented, or two thirds) in the United States don’t have renter’s insurance. No insurance against fire, against theft, against a whole host of things that could happen in a rental property. All it takes is a [...]
This is a step that should be taken prior to purchasing a home - investigating the insurability of the property so that you aren’t hit with a surprise when you go to compare insurance costs. One good indicator of a home’s insurability can be found in the Claims Loss Underwriting Exchange, or CLUE, a database [...]
As an astute homeowner you should always be looking for ways to trim your fixed costs. Since you probably can’t change the terms of your mortgage or how much in taxes you pay, the next best thing is to maintain all the homeowner’s coverage you need at the lowest cost possible. Here are some tips [...]
This is a scenario that some in the areas affected by Hurricane Katrina are facing and it’s ugly. If your home is destroyed or damaged in some sort of accident or act of nature/God and your homeowners insurance doesn’t completely reimburse you, you might be able to claim it as a casualty loss deduction on [...]
It is critically important to take photographs of all your possessions and of your personal property because it is document proof that you own what you say you own in the condition in which you own it. Renters and homeowner’s insurance will protect you in the event that you possessions or personal property is stolen [...]
You just got out of the gym and discovered that someone had jacked up the trunk of your car and stolen your set of golf clubs. Alright, you think, no big deal I’ll call the police and then my car insurance company and get it all settled. Then you discover that car insurance doesn’t cover [...]
You should always have either renter’s or homeowner’s insurance, always, without exception. In most cases, you will be required to have renter’s insurance if you are renting from any large corporation because it takes a lot of the risk away from the corporation’s insurers. If you’re a homeowner with a mortgage, the lender will require [...]