Travelers Insurance Company has an excellent renters insurance policy. The Form HO-4 covers Personal Property and Personal Liability Insurance for the tenant (insured).
Renters Insurance is a very valuable coverage because it no only offers protection against damage to your personal property but also protection against negligence and personal liability cases that may be brought against you.
One valuable example is if there is fire, smoke or water damage to the rented home or apartment unit, the property owner's insurance company will most likely attempt to collect damages from the tenant if they can prove negligence. In this case, Renters Insurance will provide the legal representation to handle the situation although the policy limit will apply.
If you are not sure and don't really want to commit to purchase renters insurance but may or may not be required to according to your lease agreement, the best way to generate the lowest annual premium is to select the minimum personal property coverage available, the lowest limit of personal liability and the highest available deductible for the policy.
There is a link providing an online format to obtain a quote and buy renters insurance online in multiple States; may be used by Escrow/Closing Professionals, Mortgage Professionals, Real Estate Agents and directly by Consumers. An exemplary online experience for all! http://bit.ly/1954BTO
While I have no intention to question a colleague, I’m not sure I would place a Travelers Tenants’ policy in the “Excellent” column, good, maybe, but certainly not excellent.
The Travelers tenant homeowners’ policy covers your personal property but limits that coverage to specific named perils. In my opinion, an excellent tenant homeowners’ policy would cover any direct damage (except for specific exclusions and limitations).
The basic Travelers tenants’ policy covers the insured for the Actual Cash Value of their property. An excellent policy would cover the full replacement cost of covered property, new for old.
The Travelers tenant homeowners’ policy, like many others, covers your personal property but limits theft coverage on Jewelry, Furs or Silver to, I believe, $1000. An excellent policy would have either no limitations or the limits would be no less than $5000 in the aggregate for each category.
The Travelers liability coverage excludes, as do most other tenants policies, property damage to property in the insured’s care, custody or control. Generally that would include property damage to the apartment you are living in. This exclusion would not apply to Fire or Smoke damage but I don’t believe water damage to the apartment you rent would be covered by the basic policy. Securing coverage for accidental damage to the apartment they are living in may be a very important coverage for most apartment renters. Obtaining a waiver from your landlord for any damage covered by the landlord’s insurance may be the best and most economical alternative.
If buying coverage on-line or face to face from a local broker, I suggest these questions be raised and addressed.
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Renters Insurance is a very valuable coverage because it no only offers protection against damage to your personal property but also protection against negligence and personal liability cases that may be brought against you.
One valuable example is if there is fire, smoke or water damage to the rented home or apartment unit, the property owner's insurance company will most likely attempt to collect damages from the tenant if they can prove negligence. In this case, Renters Insurance will provide the legal representation to handle the situation although the policy limit will apply.
If you are not sure and don't really want to commit to purchase renters insurance but may or may not be required to according to your lease agreement, the best way to generate the lowest annual premium is to select the minimum personal property coverage available, the lowest limit of personal liability and the highest available deductible for the policy.
There is a link providing an online format to obtain a quote and buy renters insurance online in multiple States; may be used by Escrow/Closing Professionals, Mortgage Professionals, Real Estate Agents and directly by Consumers. An exemplary online experience for all! http://bit.ly/1954BTO
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While I have no intention to question a colleague, I’m not sure I would place a Travelers Tenants’ policy in the “Excellent” column, good, maybe, but certainly not excellent.
The Travelers tenant homeowners’ policy covers your personal property but limits that coverage to specific named perils. In my opinion, an excellent tenant homeowners’ policy would cover any direct damage (except for specific exclusions and limitations).
The basic Travelers tenants’ policy covers the insured for the Actual Cash Value of their property. An excellent policy would cover the full replacement cost of covered property, new for old.
The Travelers tenant homeowners’ policy, like many others, covers your personal property but limits theft coverage on Jewelry, Furs or Silver to, I believe, $1000. An excellent policy would have either no limitations or the limits would be no less than $5000 in the aggregate for each category.
The Travelers liability coverage excludes, as do most other tenants policies, property damage to property in the insured’s care, custody or control. Generally that would include property damage to the apartment you are living in. This exclusion would not apply to Fire or Smoke damage but I don’t believe water damage to the apartment you rent would be covered by the basic policy. Securing coverage for accidental damage to the apartment they are living in may be a very important coverage for most apartment renters. Obtaining a waiver from your landlord for any damage covered by the landlord’s insurance may be the best and most economical alternative.
If buying coverage on-line or face to face from a local broker, I suggest these questions be raised and addressed.