Homeowners vs. Renters Insurance
People believe that cheap homeowners insurance provides about the same coverage as cheap renters insurance. Generally speaking, that 's true, but homeowners insurance covers personal belongings and the home itself, with protection against personal injury liability. In contrast, renters insurance covers personal belongings and liability without covering the building where you live. Both types of insurance can have important exclusions, usually earthquakes and floods, but many people purchase extra insurance to cover disasters. If you need disaster insurance, the National Flood Insurance Program (NFIP) is the only place to get flood insurance. Standard insurance policies do not cover earthquake damage, but earthquake insurance doesn 't reimburse you for landscaping, pools and fences. It will also exclude chandeliers, china and crystal, but California residents enjoy discounts on earthquake insurance when they retrofit older homes with anti-earthquake measures. Lowering your premiums is the same for both homeowners and renters.
Reducing Existing premiums
Before seeking chea...
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.... An endorsement amends or adds language to the policy changing its terms or range. Endorsements can also remove or exclude specific policy terms and is sometimes called a “rider”. If you have a home business, an endorsement may be cheaper than buying a separate insurance policy. However, you may earn discounts for a separate in-home business policy if you bundle it with existing cheap home insurance, or your life and auto insurance policies. An in-home business insurance policy can cover your business property for $10,000, liability included, for around $200 annually. It protects you if your home is damaged and causes your business to shut down, covering lost income, payroll and other ongoing expenses for up to a year. A business owners package policy, or BOP, is for home businesses that manufacture stock away from the home, or that operate in multiple locations
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