Renter\"s Insurance Saves Money

The best way to avoid losing thousands of dollars if you\’re robbed or your apartment is damaged by water or fire is to get Renter\’s insurance. Many renters, especially young adults, think that the things they own just aren\’t worth enough to insure. When properly scrutinized, this just isn\’t the case. And on top of that, the liability issues you could encounter without proper insurance could be staggering.

Here are four things you should take a look at if you\’re considering renters insurance:

Create an inventory of your home items. Physically walk through your house and review each room\’s items so you get an accurate picture. Photograph or videotape everything you own during your home inventory. This will give you a permanent record you can use in case of a claim. If you have more expensive items, make sure your write down any serial numbers so that if the unforeseen happens, a claim will not be denied. If you were particularly detailed, you could do a home inventory online and save it off site so that, in the event of a fire, you would have your full inventory protected and available.

It never hurts to ask for a discount. If you take precautions and preventative measures, like installing a home security system, your insurance provider will often offer a discount as a way of rewarding that action. It\’s pretty common for insurance providers to offer incentives to customers who purchase more than one type of insurance product through them. See if you qualify for any premium discounts.

Remember, you are young and you probably like to socialize and throw the occasional party. Don\’t expose yourself to careless risks by hosting parties without liability insurance. If someone visiting your place slips and knocks his head on your premises, his trip to the emergency room will be covered and any potential lawsuit could be covered.

Go for the replacement value and not just the actual value on items. When the insurance company comes to reimburse you for your damaged or stolen items, you want to make sure you can actually buy the item you want without an out of pocket expense. The value of the property at the time of loss is what a basic policy will cover. This is not always ideal. You\’ll get the actual replacement when you select the replacement cost value. For example, your 5 year old golf clubs will be replaced with as much money as it would cost for you to purchase a new comparable set. There are sometimes limits on pricey items like jewelry and computers. Check with your provider. It may be a good idea to place these items on a separate policy. The small additional cost for replacement value is absolutely worth it in the end.

Don\’t take unnecessary risks. Get the right protection for your possessions and your own personal liability. You won\’t be sorry you did.

We offer the only Alberta Home Insurance policy that can be truly tailored to your needs. Be sure to visit our website and receive a quick quote online or by phone. Or Visit our Alberta Home Insurance video for a quick overview.

Renter\"s Insurance Saves Money

Preparing for an Earthquake

It\’s true that an earthquake could not be prevented from happening, but it is always good to be ready in the event that this disaster strikes. Having an emergency plan of action for any kind of disaster, much less an earthquake is not only sound thinking, but when disaster hits, family members know exactly what to do.

Most people do not often think about how well-prepared they are for an emergency, but it really is something that you should consider for your family\’s safety as well as your own. It is everybody\’s wish to have peace of mind and this could be attained if you are equipped against any disaster regardless of whether or not you utilize skills or supplies for emergency.

You can start with a kit containing toiletries, utensils, water, food, matches, and other necessary items that you can easily carry in case of emergency. Don\’t forget to include necessary medications. Your kit should include everything you need for at least three days. You need to be sure that those important items are included such as flashlights, blankets, gloves, clothing and other for you to feel comfortable during emergency cases. Things that give you warmth, safe water, and food are essential to survive, therefore these items should be on the top of the list when you are preparing kits for disaster and other emergencies.

Make an assessment of what you need and ensure that the kit for emergency has all the things that you need to survive for 72 hours (3 days) without other supplies to be added. Consider how a disaster may affect your needs; include the supplies to deal with medical emergencies. Make sure that you will bring vital documents with you such as family ID\’s and policies of any insurance that you obtained.

All of these items should be stored in a sturdy waterproof container somewhere where they should be accessible after an emergency.

Coverage of Earthquake Insurance

Earthquake insurance covers loss or damage caused by the tremor or shaking from an earthquake. Be aware that any damage or loss triggered by snowslides, landslides or other types of movement of the earth will not be covered by this kind of insurance. The same rules are also applied for those losses incurred due to big waves or tsunamis, in spite of the reality that these happenings are because of the earthquake.

If you own a house, your earthquake insurance will typically cover loss or damage to your building and your personal property. In case you can\’t stay in your home because it is under repair, the amount that you will spend as additional living costs will also be covered.

If you are an owner of a condo unit, the structure has to be insured by the condominium company. To avail of the coverage of your additional living expenditure and personal belongings, make sure that earthquake insurance is included in your individual condominium policy. It may also cover assessments made against you because of a shortfall in your condo corporation\’s insurance.

Traditional home insurance policies do not cover loss or damage caused by earthquakes; instead, you must specifically request that earthquake insurance be added to your policy. It is also worthy to remember that earthquake insurance usually has limitations of deductible and coverage.

For more detailed information, visit Kelowna Home Insurance. Or stop by our Condo Insurance in BC resource page for related topics and money saving ideas.

Preparing for an Earthquake