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Thanks for making it easy to find the cheapest renters insurance. Knowing our stuff is always protected gives me peace of mind.

Matt and Bethany, Charleston SC

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Compare buildings and contents insurance before you buy renters insurance. It is important to understand that if you are only renting your apartment from a landlord, you need to only cover your contents. It does not matter if you are looking for a residential or commercial policy, this is usually the case.

Though, it is important to understand what is covered under both kinds of coverage so you can compare buildings and contents insurance. It may be that you are planning on renting to buy, or planning on purchasing your building or house from your landlord or commercial real estate company. You will need to compare buildings and contents insurance so you are properly insured. This will insure you against problems with the structure that you are renting. These are occurrences beyond your control, so you definitely need to compare prices before you purchase proper coverage.

Renter Beware

Even if you have any concerns about how well insured your landlord is, you still cannot compare and buy buildings insurance unless you own the place. Though, you may instead be able to compare prices to purchase a loss assessments portion on your policy. This can help, particularly if you are renting a condominium from its owner. You will want to compare policies to find the best contents coverage deals because you have little to no control over the state of the buildings in which you are renting.

If you have no control over how well your landlord maintains your buildings, it could be that the roof is about to crumble, the washer about to flood the first floor, or worse, the wiring may be frayed, old and a huge fire hazard. You will need to protect your contents against problems that can be brought onto you based on the condition of your buildings in which you live or work. This is the time to compare buildings and contents insurance.

In addition, if you are leasing buildings as part of your business, it can be very costly if you are not able to conduct business because you lose everything because of a massive problem. It could be caused by faultiness of your buildings that you are renting. That is irrelevant because, even if you have business coverage that will protect you from lost days of operation, you cannot recoup all those losses through coverage necessarily. Instead, you will want to also cover your contents.

In the case of a condominium insurance policy, there is a master condominium policy. The master condominium insurance policy is purchased by the condominium board of owners or the project management company. This is in addition to the personal condominium insurance policies that are carried by the individual condominium owners.

Leasing Problems

Compare buildings and contents insurance and understand that condo owners buy their own insurance policy is because they cover their contents. The home owners board instead covers everything from the studs outward. If the board has seen a sharp increase in water damage claims that have cause extensive damages to many owners' units, then the insurer may cancel the master policy. Or, they may require that the individual owners will now pay a hefty $25,000 deductible every time there is any damage, particularly due to water damage.

In this case, the individual owner of the condo would have to take on assumption of the deductible any time there is a claim that they need to make about water damage that involves the master policies. In this case, the owners may decide to compare buildings and contents insurance to get a better, more competitive plan in place. It is, after all, hard, if not impossible, to prevent an accident, especially if it involves a pipe bursting or a roof leaking rainwater into your closet, bedroom or even kitchen.

There are other reasons to compare buildings and contents insurance. Compare coverage types because it can include the possibility that a tree could come down through the roof in a storm. Or, revisiting misbehaving appliances, you could see the water heater, dish washer or clothes washer overflow. These are great reasons to compare coverage and quotes. That can cause a nasty mess to your own belongings, which are known by the insurers as your contents. Compare buildings and contents insurance to properly insure yourself.

Compare buildings and contents insurance only if you own the structure in which you are living or working. If you are renting you need to protect yourself as a renter from unexpected losses. This is bought through insurers and protects your belongings from loss. Many times the loss will come from poor maintenance, and therefore it is important that you cover your own belongings. You cannot maintain the house or office for your landlord, but you can protect yourself against the unexpected losses that can occur.