Protect Yourself with Renters Insurance

Several recent studies have indicated that only a third of all tenants have renters insurance. Respondents to these surveys often indicate that they believe the coverage is too expensive or that the coverage is provided by the landlord. Yet both of these assumptions are incorrect.

First, the average renters premium is approximately $185 per year. In other words, you can get protection for your personal property and personal liability coverage for as little as $15 per month. Second, your landlord will likely have insurance, but it will only cover the house or apartment structure itself along with the landlord's personal liability.

So here are some tips for you to consider concerning this essential coverage.

• Create an inventory of everything in your apartment and list the estimated cost of replacing each item. Think in terms of replacement cost, without factoring in any depreciation. This will help you determine the amount of coverage to purchase.
• Take pictures of your more valuable items and store these off-site, such as in a safe deposit box at your bank, at a friend's home, or in an online cloud storage website.
• Shop around for coverage. Get quotes from at least three reputable insurance agents and verify whether coverage is for 6 months or 1 year. Consider getting coverage with your auto insurance company since you may be eligible for a car/renter's discount.
• If your financial condition is solid, consider a higher deductible for your contents since this can reduce your premium significantly.
• Ask about other discounts, such as ones for smoke alarms, sprinkler systems, nonsmoking households, and security systems.
• If you have high-value jewelry items, you may want to schedule those on a separate policy or an endorsement to the renters policy for broader coverage.

Copyright 2013

International Risk Management Institute, Inc.
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Protect Your Interests after an Auto Accident

While we certainly hope that you are never involved in an auto accident, we realize that they do happen. That's the reason we're in business; that's the reason you trusted us to find the right auto insurance for you. If you are ever involved in an accident, the following suggestions will help the claim process move ahead smoothly. Please print this out and keep a copy in your glove box. 

• Make sure that everyone is unhurt—in your car and any others involved. If anyone is injured, call 911 immediately. Even if you think your injuries are minor, it is probably a good idea to have them checked out—either at the hospital or with your family doctor. A seemingly minor injury could turn out to be more serious.
• Call the police. They can help defuse a difficult situation and ascertain who is at fault. Make sure that police on the scene get the names, addresses, and phone numbers of all other involved parties. Ask for a copy of the police report from the officer.
• If you happen to have a camera with you—or a smart phone—take some photos of the vehicles involved, the general area where the accident occurred, and skid marks.
• If possible, safely move the cars out of the way of traffic.
• Do not admit or discuss liability with anyone other than staff at our office or your insurer.
• Get the following information about everyone involved in the accident: name, address, driver's license number, license plate number, description of car, e-mail address, all phone numbers (home, work, and cell), and auto insurance information. Also, obtain contact information from any witnesses to the accident.
• Report the accident immediately to our office.  Claire Gerlach 800-860-5741 (716-849-4354)
• While the details are still fresh in your mind, write your own account of the accident. Be sure to make note of anything the other involved parties said about their injuries or about how they may have contributed to or avoided the accident.

IRMI Copyright 2013

Lawley Genesee Insurance

http://www.lawleygenesee.com