I've heard mixed reviews about renter's insurance. Our son is now living in Mt.Pleasant Sc. He does not have anything of much worth, besides his three computers ( 1st apartment out of college,loves computers) - He is in a second floor apartment about 5 mins. from the beach.
I would like him to get renter's insurance - but, I've also heard that what it covers is not worth the premium.... Any Advice? Options?
You need to review the contract and read the fine print. I am a renter and small business owner. My rental and business are separate. My insurance agent has all my properties insured, including my car, business, and rental house. I have a separate agency insuring my mountain cabin that was in the 100 year flood of '85.
Educate yourself and shop for the best insurance oportunities. Rental insurance is important and not that expensive. Get at least three quotes.
Buying insurance is gambling with the expectation you are going to lose. Your call.
More important than the contents coverage would be the liability coverage attached to the policy.
Make sure the specific limit for electronics/computers is sufficient.
Also in SC, make sure if you decide to make payments on the policy request direct billing (billed directly from the insurance carrier) as there will be little or no fees on the payments. If you premium finance (outside finance company through the agency) additional fees and charges will apply.
The coverage should be relatively inexpensive, and worth the premium. Check with his auto insurance company to see if they offer multi - line discounts. If they don't, shop both coverages at the same time to see if the combination of the two offsets the premiums a bit (usually 5-10 %).
All - Thanks for the advice - I will tell him to check with his auto carrier, and also read the policy carefully for what it includes, and limits..... any specific insurers to stay away from- or just go with the big guys? I heard that some insurers stay away from coastal communities in hurricane areas....
Blessings,
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