What you need to know about Renters Insurance

Renters InsuranceOnly 37 percent of renters had renters insurance, according to a 2014 Insurance Information Institute (I.I.I.) poll.1 If everything you own in your apartment or rental home was destroyed or stolen, would you have the funds to replace what you need to get your life back in order? Take a look around and imagine how much it would cost to replace everything you have — your computer, TV, DVD player, iPod, digital cameras, jewelry, bike, etc. Could you afford to do that? Not many people can, and if you cannot, you may want to consider renters insurance.

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Your precious items may not be covered

The holidays are approaching and many of us may give or receive jewelry or other valuable items. You may already own valuable personal possessions such as jewelry, furs, antiques, art, coin collections and the like. Do you understand how to insure them? Many people think their homeowners insurance covers the full value of all of their belongings. This may not be the case: Most homeowners insurance policies cover your house and most of its contents but usually have limits on certain items and often for certain causes of loss. So how can you make sure that everything is covered?

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Ways to help make your new home safer

Make your new home saferMoving is both exhilarating and exhausting — but amid the hectic activity, I hope you’ll remember to locate or restock basic safety supplies. Equipping your home with easy-to-find safety products may help keep you, your family, your property and your possessions safe in case of an emergency.

  • Smoke detectors  In the event of a fire, a smoke alarm may help save your life and those of your loved ones by providing an early warning signal so you and your family can escape to safety. There are two basic types of detectors: ionization and photoelectric.
    • Ionization alarms sound more quickly when a flaming, fast moving fire occurs.
    • Photoelectric alarms are quicker at sensing smoldering, smoky fires.
    • Dual sensor smoke alarms combine ionization and photoelectric into one unit.

    Because ionization and photoelectric smoke alarms are each better at detecting distinctly different yet potentially fatal fires, the U.S. Fire Administration recommends the installation of both ionization and photoelectric or dual sensor smoke alarms.1
  • Fire extinguishers — For the home, an “ABC” dry chemical fire extinguisher is typically recommended because it can put out the three most common types of home fires: wood and paper fires (class “A”), grease and oil fires (class “B”), and electrical fires (class “C”).2
  • Carbon monoxide detectors — Carbon monoxide (CO) is a deadly, colorless, odorless, poisonous gas produced by the incomplete burning of various fuels such as coal, wood, charcoal, oil, kerosene, propane, and natural gas. Consider installing CO alarms in the hallway near every separate sleeping area of the home. Make sure the alarm cannot be covered up by furniture or draperies.
  • First aid kit — Be prepared in the event of an injury with a well-stocked first aid kit. You can purchase one or visit the Red Cross for a list of supplies.
  • Emergency kit — In case of severe weather or a natural disaster, prepare an emergency kit with food and supplies to help keep your family comfortable for 72 hours. The Federal Emergency Management Agency suggests this list of supplies.

Always look for an independent testing laboratory’s mark of approval to be sure the product meets established safety standards. And call me so you can be sure you have the coverage you want for your new home and possessions should an unexpected loss occur.

1Source: http://www.usfa.fema.gov/citizens/home_fire_prev/alarms/ 
2Source: http://www.fire-extinguisher101.com/

Covering a College Student’s Belongings

Sending your child to CollegeIf you are sending your child off to college this fall, you probably realize that your life is about to change. You might not realize that your insurance needs change as well. Here’s what you need to know about college students and insurance.

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