Randomly Mental ™

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A Renters Insurance Comparison Guide

Posted by kristobaldude on September 21, 2012

yellow high-rise apartment

After comparing a few quotes, you will find that most renters insurance companies base their premiums on the type and amount of protection you opt for. In other words, a basic renters insurance policy with a low cash-out value will cost you the least, but it will also offer you little in terms of compensation.Even if you find a renters insurance policy with coverage that includes acts of nature, be aware that there are several other types of coverage that would not be included if a disaster were to occur:

  • If you live in close proximity to an airport or military base, damage to your property by way of a wayward aircraft or falling objects would not be covered by this type of policy.
  • Mechanical failure of your heating and plumbing systems, or any structural failures would also not be deemed as an act of nature.
  • Typically, even flooding by itself would not be covered.

To figure out what type of renters insurance policy you need, you will have to evaluate your particular lifestyle, living situation and extraneous factors. If you live in a townhouse or row house, the actions of your neighbors can have damaging results. Fire and smoke damage to your belongings can occur by way of another person’s action. If you live on the first floor on a high-traffic road, opting for renters insurance with a provision for out of control vehicles may also be something you want to consider.

… (Read more here: A Renters Insurance Comparison Guide.)

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