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Renters Insurance - HO-4 Coverage Ashland City TN

Jewellry antiques and electronics may only be covered up to a certain amount. If you have some items that are unusually expensive, you may need to purchase a separate rider. If you don't buy that additional coverage up front, you are not likely to be able to recover the damages later in a claim.

Tammy Varallo Insurance
(615) 352-5747
296 White Bridge Pike
Nashville, TN
 
Darnell Clay Jr. State Farm Agency
(615) 855-0360
101 Northcreek Blvd
Goodlettsville, TN
Services
Insurance and financial services

Venczel Insurance Services
(615) 384-0333
101 7th Ave W
Springfield, TN
Alternate Phone Number
615-384-0333
Services
Insurance Products

The James Group
(901) 273-8600
6055 Primacy Parkway, Suite 300
Memphis, TN
 
Venczel Insurance Services
(615) 384-0333
101 7th Ave W
Springfield, TN
Alternate Phone Number
615-384-0333
Services
Insurance Products

Sentry Insurance
(615) 400-5752
9207 Preston Run
Goodlettsville, TN
Alternate Phone Number
615-400-5752
Services
Home / Auto / Life

Nashville Music City Insurance Agency LLC
(615) 292-3555
2200 21st Avenue South Suite 105
Nashville, TN
Services
Auto Insurance Agency, Home Insurance Agency, Insurance Agency, Motorcycle Insurance Agency, Renter's Insurance Agency

Life Planning TN
(866) 314-2747
708 Brown Ave
Cookeville, TN
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Health Insurance, Life Insurance

Shelter Insurance William Myers Agency
(731) 256-1775
68 Ridgecres
Jackson, TN
 
Johnston & Associates Insurance
(615) 915-1521
7003 Chadwick Dr Ste 298
Brentwood, TN
Alternate Phone Number
(615) 915-1521
Services
Tennessee Insurance Agency, Home Insurance, Business Insurance, Auto Insurance, Life Insurance, Commercial Insurance

Renters Insurance - HO-4 Coverage

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Renters Insurance

Renters insurance (also known as HO-4 coverage) typically covers losses to your personal property from 17 types of perils:

  • Fire or lightning
  • Windstorm or hail
  • Explosion
  • Riot or civil commotion
  • Aircraft
  • Vehicles
  • Smoke
  • Vandalism or malicious mischief
  • Theft
  • Damage by glass or safety-glazing material that is part of a building
  • Volcanic eruption
  • Falling objects
  • Weight of ice, snow, or sleet
  • Water-related damage from home utilities
  • Electrical surge damage

You'll note that while volcanic eruptions are included, floods and earthquakes arent. If you live in an area prone to either, it's recommended to buy a separate policy or get a rider on your existing policy. In some coastal regions, where hurricanes might pose a threat, you might also need to buy a separate rider to cover wind damage. As always, you need to check the details of your policy

One thing to look at is whether the renters insurance company do not remove will offer "actual cash value" (ACV) or "replacement cost coverage" for your belongings. As the name implies, ACV coverage will pay only for what your property is worth at the time of your claim. So, if you bought a television five years ago for $300, it would be worth significantly less today. You'll be paid that lower value, minus any deductible (which would be applied to your overall claim).

Replacement cost coverage, on the other hand, will pay what it actually costs to replace the items you lost, again minus the deductible.

When you are thinking about your needs for coverage, keep in mind that the costs of some consumer goods are coming down. For instance, the television that cost you $300 five years ago might just be purchased new for $200 now. This is something to consider while you decide on whether you need ACV coverage or replacement cost coverage.

Many people opt for the lower cost replacement cost coverage. After all, many of your personal belongings are not critical, and can be replaced over time. The cost of a comparable item may have come down. (This is typical with electronics and stereo equipment, for instance.) Usually, you can afford to wait to replace some items until you have the money to pay for them yourself or can shop for a bargain. For that time and effort later, you'll save money up front on your premiums.

Let your agent know about any particularly valuable items you have. Jewellry antiques and electronics may only be covered up to a certain amount. If you have some items that are unusually expensive, you may need to purchase a separate rider. If you don't buy that additional coverage up front, you are not likely to be able to recover the damages later in a claim.

In order to ensure that you are buying the right level of coverage (as well as to prepare for the unlikely event of a claim), it's important to take inventory of your personal belongings. Unfortunately, many people only figure out that they didnt have enough coverage ...

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