{"id":914,"date":"2015-03-17T13:53:56","date_gmt":"2015-03-17T13:53:56","guid":{"rendered":"http:\/\/www.nelsonboydlaw.com\/blog\/?p=914"},"modified":"2021-09-03T15:56:16","modified_gmt":"2021-09-03T15:56:16","slug":"legal-tip-always-buy-renters-insurance","status":"publish","type":"post","link":"https:\/\/www.nelsonboydlaw.com\/blog\/legal-quizzes\/legal-tip-always-buy-renters-insurance\/","title":{"rendered":"Legal Tip: Always Buy Renters Insurance"},"content":{"rendered":"<p>If you own a home, chances are you have <a title=\"Homeowners Insurance\" href=\"http:\/\/www.nelsonboydlaw.com\/what-we-do\/insurance-litigation\/homeowners-insurance\/\">homeowner\u2019s insurance<\/a>.\u00a0 Your mortgage company will require you to purchase homeowner\u2019s insurance until the mortgage is paid off.\u00a0 If your lender finds out you don\u2019t have this insurance, it will purchase it for you and add the cost to your mortgage payment.\u00a0 However, if you don\u2019t own a home and you rent, there isn\u2019t anyone who will force you to purchase Renter\u2019s Insurance, even if your lease requires it.\u00a0 As a result, many people don\u2019t buy Renter\u2019s Insurance. This is a BIG mistake.<\/p>\n<p>Renter&#8217;s Insurance will insure your goods whether they are damaged or stolen from your apartment, your car, and, in some cases, a storage facility.\u00a0 Unlike homeowner\u2019s insurance, which includes a set amount of coverage based on the value of your home, YOU determine the value of your Renter\u2019s Insurance.\u00a0 You tell your insurance agent how much you think your possessions are worth and purchase insurance for that amount.\u00a0 The exact amount of the premium is determined based, in part, on the place you live and your insurance claims history.<\/p>\n<p>If your goods are lost or stolen, you can make a claim up to the value of the insurance that you purchased. People often assume their landlord is responsible if their things are destroyed in their apartment. But, that isn\u2019t always the case and it can take months and a lot of money to resolve that issue. Many people think their possessions aren\u2019t worth enough to justify purchasing Renter\u2019s Insurance. However, have you ever thought about how long it would take you to start over \u2013 from nothing?\u00a0 Far more money than you ever would expect.<\/p>\n<p>So, do yourself a favor and purchase Renter\u2019s Insurance. Bonus Tip:\u00a0 Be sure to buy \u201cReplacement Cost Coverage\u201d so that your insurance company will pay you the amount of money it will actually take to replace your items with \u201clike kind or quality\u201d goods.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":4,"featured_media":919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[94],"tags":[26,38,105,98],"acf":[],"_links":{"self":[{"href":"https:\/\/www.nelsonboydlaw.com\/blog\/wp-json\/wp\/v2\/posts\/914"}],"collection":[{"href":"https:\/\/www.nelsonboydlaw.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nelsonboydlaw.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nelsonboydlaw.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nelsonboydlaw.com\/blog\/wp-json\/wp\/v2\/comments?post=914"}],"version-history":[{"count":4,"href":"https:\/\/www.nelsonboydlaw.com\/blog\/wp-json\/wp\/v2\/posts\/914\/revisions"}],"predecessor-version":[{"id":3256,"href":"https:\/\/www.nelsonboydlaw.com\/blog\/wp-json\/wp\/v2\/posts\/914\/revisions\/3256"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nelsonboydlaw.com\/blog\/wp-json\/wp\/v2\/media\/919"}],"wp:attachment":[{"href":"https:\/\/www.nelsonboydlaw.com\/blog\/wp-json\/wp\/v2\/media?parent=914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nelsonboydlaw.com\/blog\/wp-json\/wp\/v2\/categories?post=914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nelsonboydlaw.com\/blog\/wp-json\/wp\/v2\/tags?post=914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}