Do I Need Renter's Insurance?

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Do I Need Renter’s Insurance?

 by: Dan The Roommate Man

If you are moving into an apartment you may want to consider investing in insurance. Along with the first month’s rent, chances are you will be asked to pay a security deposit. This is a type of insurance for your landlord. The landlord can use this deposit to pay for any damages caused during your residency. For you, security comes in the form of renter’s insurance.

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Most renters use the homeowner’s form of insurance known as the HO4 policy. This policy will typically cover furniture, clothing, and most personal property in the event of fire or smoke, lightning, vandalism, theft, explosion, windstorm, or water damage from plumbing. In most cases, the insurance company will take your word for what you think your property is worth. However, if you’re wanting to insure your jewelry, art pieces or other collected items, you might need to pay extra for what’s called a “Scheduled Personal Property Endorsement.” For this type of coverage, the insurance company will send out an appraiser. An appraiser will also be sent out to your property in the event that your insured items have been damaged.

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For a little extra, most insurance companies will cover your things on a replacement-cost basis. For example, if your old microwave is only worth fifty dollars, but it would cost one hundred and fifty to replace it, the company will insure that microwave for a hundred and fifty dollars. That way, in the event of an actual disaster, or if your property is damaged and your insurance company is going to cover it, you won’t be reimbursed for a ten year old refrigerator or a five year old couch, but for what it will cost to replace them.

The HO4 policy also pays any necessary additional living expenses you are forced to make due to a natural disaster or in case your apartment asks you to move out for a short period of time while they remodel, fumigate, etc. If your apartment building is hit by a tornado, it’s going to take more than a couple of days to rebuild your complex. Eating every meal out and living in a motel can add up quickly. By investing in this policy, you won’t have to worry about these expenses.

Renter’s insurance is typically priced around $200/yr for $30K worth of coverage and $100K worth of liability. However, the cost for renter’s insurance may vary depending on several factors. For example, you will pay a lower premium if you’re next door to the fire department than if you’re two miles away. If you are in a high crime area, your premium will be considerably more than someone living in a picture book neighborhood. In older apartments without up-to-date wiring, the premium will be a bit higher. For complete details, contact your local insurance company.

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About The Author

Since 1989 Dan The Roommate Man has helped 1000’s of people find roommates. Need help? Contact him at 800-487-8050 or www.roommateexpress.com

info@roommateexpress.com

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Project: Glowing Goblins

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Project: Glowing Goblins

 by: Rondi Hillstrom Davis and Janell Sewall Oakes

This project is perfect for the artistically challenged or those who prefer instant gratification. My young sons completed theirs in just 15 minutes.

Supplies

Glass Votive (any size or shape)

Solid Black Halloween Stickers (bats, witches, ghosts, etc.)

-OR-

Stencils, Stamps, and Black Acrylic Paint

Orange Tissue Paper, Torn Into Pieces

2 TBSP White Glue

2 TBSP Water

Craft Brush

Directions

1. Adhere stickers onto the outside of the votive OR- If using stencils or stamps, paint heavily enough that no light shines through the shapes. Let dry completely.

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2. Mix glue and water. Paint glue onto the outside of glass, on top of the stickers.

3. While the glue is wet, layer pieces of tissue paper and glue until the entire votive is covered and the tissue is saturated.

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4. Turn the votive upside down to dry (a hairdryer speeds up the process).

5. Once dry, add a tea light and let the glow from these festive candles welcome the neighborhood spooks.

Copyright Nine Twenty Press

URL: http://www.togetherparenting.com

You have permission to reprint this article electronically or in print, free of charge, provided that each article is:

1. Printed in its full form with no changes

2. Includes an active link

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4. And the following byline appears at the bottom of each article:

About The Author

Rondi Hillstrom Davis and Janell Sewall Oakes are the co-authors of the award-winning book Together: Creating Family Traditions. To check out their website that’s jam packed with family ideas, visit http://www.togetherparenting.com

To subscribe to their online newsletter, go to http://www.togetherparenting.com/feedback.asp

info@togetherparenting.com

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