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Frequently-asked
Questions
- Does Renters Insurance cover all
of my possessions?
It depends. Some possessions - jewelry, computers - are
often subject to a per-category theft limit (for example, some
policies have a $5,000 limit for computers). When seeking information
on renters policies, ask about the various category limits and
how they apply to expensive items you own. You may purchase
a Floater, providing additional coverage for specific
items not included in you basic policy.
- If I file a claim, will my policy
be canceled?
Your rates could change. If you are not responsible for
the loss or damage to your items, your insurance should not
be affected. If you were at fault (caused a fire by smoking
in bed), the insurance company may consider that when setting
the price for your next policy. Your company may also consider
the number of losses, regardless of fault, also.
- Is my property covered away from
home?
Yes, but coverage may be limited. Restrictions in terms
and the amount of coverage might apply (from 10 percent of your
personal property coverage to full value). Ask your agent for
details. Your liability coverage does not change.
- As a student, am I covered by my
parents' policy?
If you are attending college, under 26 and your parents
have a Homeowner or Renters insurance policy, your parent's
insurance may give you limited coverage in the dorm, but not
if you live in an apartment.
- Can I purchase a renters policy with
my roommates?
If you live in a group house or share an apartment and want
to purchase Renters Insurance, be aware that the regulations
vary state to state, and policies vary significantly from company
to company. Find out what regulations apply in your state. Then,
shop around to find an insurance company that can accommodate
your situation. Also, find out whether your policy needs to
be updated if you get a new roommate or if all your roommates
need to be named under the policy.
- What about unmarried couples?
Some insurance companies allow unmarried couples who have
been living together to obtain coverage. Some policies automatically
extend coverage to any future resident of a policyholder's household
who fits the definition of a domestic partner.
- What happens if my rented or borrowed
items are stolen?
Items that are "in your possession" are covered
under a standard renters policy.
- What if my insurance company does
not respond to a claim?
Call your company and speak with a representative about
the situation. Also, your state insurance department or local
consumer protection office can answer questions on filing claims
and also take complaints. The phone numbers for the Northwest
State Insurance Departments is 1-800-562-6900.
- Is my bicycle or car covered by Renters
Insurance?
Your bike is protected by a standard Renters Insurance Policy.
Motor vehicles are not covered. A separate insurance
policy is needed to protect your car, van or motorcycle.
- What will my landlord's
insurance cover?
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