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Are Thefts Covered by Standard Renters Insurance Policy?

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Are Thefts Covered by a Standard Renters Insurance Policy

As a renter, you should consider buying renters insurance, especially if you own expensive possessions. This way, you can protect the value of your belongings and also be covered if you cause damage or injury to a neighbor or visitor at your rental complex.

What is renters insurance?

Renters insurance is divided into three coverage types: personal property, liability, and loss of use.

Personal property covers your possessions if they are lost, stolen, or damaged due to a covered peril.
Liability covers legal costs if someone accuses you of causing harm or damage.
Loss of use covers storage […]

Homeowners Insurance Exclusions: What Is Not Covered

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Homeowners Insurance Exclusions: What Is Not Covered

A standard homeowners policy is designed to cover damage caused to your home and its belongings due to a covered peril, such as theft, storm, fire, etc. Although this policy will provide much of the coverage you need, it is far from complete, especially when you live in a high-risk zone.

Earthquake, Hurricane, and Flood Coverage

Earthquakes, hurricanes, and floods are specific types of perils that only occur in certain areas. Because of the limited areas where they may strike, most standard homeowners policies don’t cover them. Instead, you need to apply for endorsements or an […]

Are Term Life Insurance Benefits Taxable?

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Are Term Life Insurance Benefits Taxable?

Whether you’re a business or an individual, it’s always financially prudent to get the lowest tax liability legally possible. This requires an awareness of all the tax deductions and credits you may be eligible for. It’s probably why you’re wondering if term life insurance benefits are taxable.

Are Life Insurance Payouts Taxable?

Normally, the proceeds of your term life insurance policy aren’t subject to state or federal tax. The death benefit will go to your named beneficiary tax-free provided that it’s a lump sum, one-off payout […]

7 Important Reasons Why You May Need Life Insurance

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Important Reasons Why You May Need Life Insurance

Even though life insurance is often perceived as an older adult’s concern, it’s something you should think about even at a young age. Here are key reasons people of all ages need life insurance.

You have children or are preparing for one

Once you start a family, there’s no turning back in terms of ensuring your kids have the proper care. If you die or become ill and cannot work, your life insurance plan can pay your family bills. Life insurance covers mortgage, college, and other living expenses.

Pregnant women may […]

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