7 Myths usually people believe
about landlord Insurance
1. It’s expensive. It
is what most people common thing people say about landlord insurance but in
reality the more you bargain the lower you could get a landlord insurance.
2. It doesn’t cover much. Most renter insurance
protects against damage from financial, structural and constructional risks. The
most common are fire, theft, vandalism, smoke, electrical surges, and
windstorms. As noted earlier in many cases, it also provides liability coverage.
3. Most insurance companies and
there products are roughly the same.
Complete myth. They are not.
4. I will just take out what I think is right and do it myself to save
money.
You will end up with the wrong products, a
wrong company and probably paying to much then never be able to claim.
5. My belongings aren’t worth much. Renters tend to
underestimate the value of their belongings. The average renter has more than
$30,000 in personal property. If you’ve never taken an inventory of your
belongings (and many of us haven’t), read our tips on creating a home inventory
and complete our personal property inventory. (Print several copies and store
one at home, one at work, and one in your safe deposit box)
6. I’ll never get sued. Almost no one who gets sued
ever expected it. Landlord insurance liability coverage applies to relatively
common incidents like slip-and-fall injuries inside your home. It also covers
you miles from home. Say, for example, you rent a property for rent and your
tenant gets injury due to breakdown of roof or some malfunction in your home.
If the injured person later sues you (contending that, as the negligence of
landlord , you should have known about the danger), your Landlord insurance
would pay your legal costs and any settlement, up to your policy limits.
7. The person on the other side of the wall is insured. Odds
are that’s not the case. That means if your neighbor has a fire or
overflowing toilet that damages your belongings, you’re the one who gets stuck
paying to replace these items.
Contact us at realsupermarket.com for 5000 Absentee Landlord List from Bay County Florida
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