Do People Who Live At Home Need Elizabeth, NJ Renters Insurance?
If you’re a student and you live at home, you likely have some coverage under your parents’ homeowners or renters insurance policy. What you don’t have is coverage for liability to them. Why? Because you’d be an insured under that policy and liability is a third-party coverage. Therefore, there would be no coverage for you if you caused a loss and the homeowners sued you to recoup that loss. That’s a good reason to have Elizabeth, NJ Renters Insurance.
Renters insurance in Elizabeth makes sure that you have liability coverage in case you damage the property itself. In addition, if you live at home, chances are strong that you’ve acquired electronics and other expensive possessions that probably are not declared or covered under your parents’ homeowners or renters insurance policy.
What if they let the policy lapse? You have no right to know the status of the policy, and the insurance company wouldn’t tell you anyway. One of the first bills that people let go after they realize that a home can’t be saved is often the insurance. Since the foreclosure process can take years, that’s a very long time that they and you have no coverage at all.
When you have your own renters insurance in Elizabeth, you can be sure that you declare and add to the policy any valuable items which might need to be separately listed or for which an additional premium must be paid in order to have coverage. You know the policy is in force, and you know that you’re covered.
The best part is that when you do move, you’ll be able to move the policy with you. In most cases, that’s as simple as calling and advising your renters insurance expert that you need to change the address on your policy. It’s about a two minute process, and while you’re in the process of moving you have overlapping coverage at either or both locations for a period of time.
If you’re living at home, money may be an issue. That’s not a concern in this scenario, because renters insurance in Elizabeth costs as little as fifteen dollars a month. Even with the additional risk of another person living in the home and bringing guests into the home, your coverage is still quite affordable. Buying renters insurance in Elizabeth is also about a two minute process when you call Effective Coverage. You can do it even faster online, it takes all of sixty seconds to get covered. Just call (800)892-4308 or click to get covered - whether you need Elizabeth renters insurance quotes online or coverage anywhere else!
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Photo Credit: Milton Ramirez Elizabeth City Hall CC BY 2.0