Benefits Of A Home Inventory Of Possessions

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For the people who rent a home or other type dwelling sometimes overlook the fact they may need renters ' insurance. This lapse in knowledge can become very costly for the tenant if there were to be a disaster of some sort. The renters ' insurance is primarily the same as a home owners ' policy in that it can cover fire, loss of use, water damage, wind damage, and electrical damage to things such as appliances. With renters ' insurance the policy can cover the tenant also for liability in case a visitor is injured while on the property. There is also renters ' insurance for pets, theft, or damage that the tenant might unintentionally cause to the building. The Personal Financial Planner has sheets for mapping out the strategies of researching insurance companies and how to make a home inventory of possessions. The landlord, in most cases, will have building insurance but they do not usually carry insurance for a tenant 's possessions or for loss of use. They also may carry a certain amount of liability of which will cover accidents that harm tenants while on the property, such as a if a leaking roof collapses on someone. The property owner is not required to have insurance on the possessions that belong to a tenant. The Financial Planner has the Property Insurance and Insurance Policies and Needs sheets to help a tenant decide what kind of insurance they feel they should have. The Home Inventory sheet is an excellent tool to gather information and make notes of how much
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