Renters Insurance Form
Renters Insurance Form
Are insurance companies required to notify you of lapsed policies?
I have a combined auto/renters insurance policy that I pay for as a lump sum monthly, but I was out of work in Sept-Oct of last year. Since I was out of work, I wasn’t able to pay the policy in September, but I paid the policy for both Sept/October, IN October. My policy was reinstated. Anyhow, my house recently got robbed clean and I contacted my insurance provider and they told me my policy was not active. Come to find out, when my policy lapsed, the insurance company did not reinstate my policy. I never got a written notice or anything. Shouldn’t they have reinstated the FULL policy and are they oblgated to contact me via written form to advise me that I no longer have coverage??
CORRECTION: they did reinstate my CAR POLICY but not my RENTERS INSURANCE policy.
They are required to send you a notice in writing that your policy was cancelled. If you did go in and make a payment, did you specify that both the auto and home were to be reinstated or were you just worried about the auto since the auto is mandatory. If you did request that both were to be reinstated then it could have been a mistake on the agents part. But, after 4 months you should have noticed that you weren’t paying the same amount as before and that you never received a reinstatement notice for the renters policy.
Some companies still do have combined policies where they write both auto and renters or homeowners on the same policy. If you did have a package policy then it was a mistake on either the agents part or the companies part.
Renters Insurance Interpretation
What You Should Know About Renters Insurance
If you are a renter and do not have renters insurance you could be asking for a world of trouble. It is important that anyone renting anything from anyone have renter insurance in case a disaster should strike. The disaster could be in the form of damage from leaks, flooding, fire, earthquake, or tornado. It could also come in the form of lawsuits or injury if a guest to your home has hurt themselves with. If disaster strikes at any time and you do not possess renters insurance you could lose everything and have no way of retrieving it or any way of replacing it.
You see your landlord insures the home itself if anything were to happen to it, but their policy will not cover your possessions. It is important to know what you can expect when you are looking for renters insurance. Not all insurance companies are the same; they may offer different coverage than another and will almost certainly depend on what area of the world you live in. In general, your insurance company will likely cover events such as lightning, fire, smoke, and hail or a windstorm. Your insurance company may offer additional coverage with the policy or at an additional fee to cover flooding, water damage due to damaged pipes, damage to your property from vehicles or aircraft, falling objects, and riots.
In the event that damage to your possession has occurred your renters insurance, will help in one of two ways, either by issuing you a check for the actual cash value of the damaged items or issue you a check for the amount it will take to replace the damaged items. The difference between the two is simple, the actual cash value will be the amount it will cost to replace the damaged items with the depreciation value subtracted.
While you cannot replace the actual items that may be of high sentimental value, renters insurance will allow you to at least be able to retrieve replacements for your items. If ever a disaster were to strike your rented home, you could still be able to lead the same quality of life with renters insurance.
It is important that you speak with your renters insurance agent and know everything that is covered, what the costs are monthly, what your deductible is, and how to file a claim if a disaster should happen to strike.
About the Author
This article is Copyright © 2006, Heather Colman. Find more renters insurance resources at renters-insurance-notes.info.