Rental Home Insurance

Rental home insurance is just as important as having homeowners protection coverage, contrary to popular belief. It is important to be aware that rental house insurance does not insure the building; it insures all the belongings within the structure. It is the landlord's responsibility to have the structured covered not the tenant. There are many things to consider when in the market for a good policy plan. The most important thing to take into consideration is the location in which one lives.

Basic coverage does NOT cover flood or earthquakes. So if living in areas that are prone to these events, it's not only wise to get rental home insurance, but additional coverage should be adjusted into the policy in case of natural disasters. Rental house insurance will usually have a deductible that is due when filing a claim, so when comparing rates it's important to keep the amount of the deductible in mind. If in the position to do so, taking a home inventory will help decide how much rental home insurance will be needed. If able to present this inventory to a potential policy agent, they will be able to look it over and communicate approximately how much coverage would be required to purchase to protect all of the household belongings.

Most rental house insurance companies' offer added protection for things like expensive jewelry and expensive computer systems. Even if a detailed inventory is not provided to help determine the coverage amount, the extra insurance costs related to common item can be provided. Rental house insurance is not expensive, but it's very useful when the worst happens. "If therefore ye have not been faithful in the unrighteous mammon, who will commit to your trust the true riches?" (Luke 16:11) This illustrates our duty to keep our physical possessions in good shape and protect them so we can truly be blessed in heaven.

One very important thing needed to be understand is whether the policy will pay the holder for items lost at the purchased value or the value they are today. Undoubtedly, most of the belongings are worth less today than the day they were bought. Wisdom would suggest researching companies that offer extensive coverage with payout of the purchased amount even though it costs a little more. Also, it is important to note that the first place that should be checked for a policy is the agency of a policyholder's current residence. When multiple policies are with one company, the holder may be able to qualify for discounts. God wants us to take care of the things He has entrusted us with. Buying rental home insurance is one way to do this.


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