Learn how to undergo rental insurance

Lens1000

VIP Contributor
It's a necessity for you to buy a rental insurance if you aren't get a house yet. This type of insurance covers damages done to your properties if calamity looms or if there is a fire outbreak. The funniest thing is that your landlord gets a claim for the property damaged and you will get nothing because your properties is not covered by the homeowner insurance policy bought by the landlord.

The rental insurance is necessary to protect your property while living in some else's structure. I don't see this type of insurance as a matter of choice. It's a necessity because the premium is cheap .

You can choose from different premium. It's important that you get a capable insurance agent to guide you on the pros and cons of the rental insurance.
 

btaliat

VIP Contributor
With what you explained, rental insurance policy is very crucial because this will give the tenants hope and security of property. This is because even if one is staying in s house covered by insurance,it will only benefit the house owner. I hope it will cover theft as well or only fire as you said in your post ?
 

Wisdom01

Valued Contributor
Well it's another way of insuring but this looks quite similar to properly insurance policy , because you are still insuring the property you have against any form of risks that might occur ,I Will do my research on the insurance policy and know more about it since it's my first time if seeing this
 

Jamoflondon

Verified member
Judging from your analysis on this type of insurance. I think it is a very important type of insurance to opt for simply because the amount of people that lives or uses rented properties are very much more than the amount of people that owns property so I’ll say one should consider this type of insurance
 

Good luck

Verified member
I think this is a very good idea.rental insurance policy.it will be a good benefits and privileged for the rental or tenant in a particular house to know its right and how to fight for what belong to him or her.It will also give the tenants peace of mind when leaving such property or in case of fire in the house.
 

Mandy96

Valued Contributor
This is the most uncommon type of insurance I have ever heard. I am sure this type of insurance doesn’t have much subscriber opting for it. In the real sense, this type of insurance is not really for everyone and I can say it is not really important to choose it
 

Alexandoy

VIP Contributor
I don't think we have a rental insurance here. Maybe what you are talking about is the insurance for the contents of the home. That is good if you have very valuable furniture and objects like art works. However, the claiming would be the crux of the matter. The insurance may not pay everything that you have lost in the fire or flood. You have to convince the Insurance Adjuster of your losses.
 

Lens1000

VIP Contributor
With what you explained, rental insurance policy is very crucial because this will give the tenants hope and security of property. This is because even if one is staying in s house covered by insurance,it will only benefit the house owner. I hope it will cover theft as well or only fire as you said in your post ?,
It's necessary that we buy this type of policy most especially when we are not the house owner. This will ensure the coverage of our electronic appliances, our furniture and so on. No one knows or can vividly predict when calamity will loom . So, we really have to secure our properties. This is what will give us a peace of mind and we will worry less.
 

Lens1000

VIP Contributor
Well it's another way of insuring but this looks quite similar to properly insurance policy , because you are still insuring the property you have against any form of risks that might occur ,I Will do my research on the insurance policy and know more about it since it's my first time if seeing this
It's a form of property insurance but it's like a subordinate policy. This is why we need to act fast and be wise because if damages occur to the house and it affects your properties, the landlord will lay claims at the insurance company while you will be at the losing end because your property is not quoted in the coverage. This is why we need rental insurance.
 

Wisdom01

Valued Contributor
It's a form of property insurance but it's like a subordinate policy. This is why we need to act fast and be wise because if damages occur to the house and it affects your properties, the landlord will lay claims at the insurance company while you will be at the losing end because your property is not quoted in the coverage. This is why we need rental insurance.
Hmm yeah since the landlord did not insure your property then there wouldn't be extra coverage of risk ,it will only cover risk relating to the landlord property ,it should just have been named property insurance and don't know why it was named rental,since it have similar function to property insurance too
 

Lens1000

VIP Contributor
Hmm yeah since the landlord did not insure your property then there wouldn't be extra coverage of risk ,it will only cover risk relating to the landlord property ,it should just have been named property insurance and don't know why it was named rental,since it have similar function to property insurance too
It's somehow similar but different in one aspect. The rental insurance covers your belongings while in a rented home. If damages occur to the building you could get coverage for your belongings if you are an holder of this policy. It would be a very painful situation if the landlord gets benefits for damages and you couldn't get any for the damages on your properties.
 

btaliat

VIP Contributor
To be frank, most tenants people don't really like opting for rental insurance. This is becuase the risk that is involved in renting. A tenant can find a way of protecting his property against any sort of risks that may occur. This will even prevent going for insurance under rental.
 

Wisdom01

Valued Contributor
It's somehow similar but different in one aspect. The rental insurance covers your belongings while in a rented home. If damages occur to the building you could get coverage for your belongings if you are an holder of this policy. It would be a very painful situation if the landlord gets benefits for damages and you couldn't get any for the damages on your properties.
But it would be very costly considering the fact that the landlord is insuring every of his belongings on the insurance policy both the house and everything , while the tenant own is different ,I will probably do more research about the rental insurance policy and would like to see the list of insurance companies that offers the policy
 
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