Answer to Question #202931 in Management for sharah

Question

• Find a guide on youtube or article online that covers renters insurance
• Post the link here:
• Write a summary of the most important points below
• Summary:

Answer 1

• Find a guide on you tube or article online that covers renters insurance
• Post the link here:https://www.tdi.texas.gov/pubs/consumer/cb043.html

• Write a summary of the most important points below

Renters insurance coverages.

1. Personal property coverage pays to repair or replace the things you own. It also covers your luggage and other items when you travel.
2. Loss of use coverage pays your additional living expenses if you have to move while your home is being repaired. Additional living expenses include things like rent, food, and other costs you wouldn’t have if you were still in your home.
3. Personal liability coverage protects you if someone is hurt in your home. It also pays your legal fees if the person sues you.

Risks That Renters Policy Cover.

Your renter’s policy protects you against different risks, or perils. These are things that could damage or destroy your property. Most policies protect you against things like fire, theft, and storms. But exact coverages vary by policy. Read your policy or talk to your agent to be sure of your exact coverages.

Actual cash value vs. replacement cost coverage.

• Actual cash value coverage pays the original cost of an item minus depreciation. Depreciation is a decrease in value because of wear and tear or age
• Replacement cost coverage pays to replace your property at current costs

Other Coverages You Might Need

Your renter’s policy might not protect you against some risks, or might not provide enough coverage for the things you own. Ask your agent about buying extra coverage if you need more protection.

• Additional coverage for disasters. Depending on where you live, you might need coverage for floods or earthquakes. Not all renter’s policies cover these risks.
• Extra coverage for jewelry, art, electronics, and other expensive items. Your policy will pay to repair or replace these items, but your dollar limits might not be high enough to pay the full cost.
• Business coverage. Most renter’s policies limit what they’ll pay for items you use for business. If you work from home or have a home-based business, make sure you have the right coverage.
• Extra liability coverage. Your insurance company might require you to buy more liability coverage if you have a certain kind of dog or your rented house has a pool, trampoline, or other items that could cause injuries.