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FIFTH BY NORTHWEST RENTERS INSURANCE

Fifth By Northwest renters insurance is a specific form of house coverage but for renters rather than homeowners or landlords in Fifth By Northwest. If you are renting your house instead of making mortgage payments you are still risking a lot by going without insurance. Fifth By Northwest renters insurance comes in a number of different choices so be sure to compare Columbus rental insurance providers across Ohio before selecting any policy.

Columbus Contents Insurance

When you are looking into any Fifth By Northwest renters insurance policy, from car insurance to Fifth By Northwest renters insurance, it is important that you check the coverage limits. The limits are in place for a reason and you will only be able to claim up to a certain amount on your policy. What this means is that even if your entire house is destroyed and you are left with nothing, you will only be able to claim for the amount on your policy. If you have $100,000 worth of stuff and a policy with $30,000 worth of coverage, then this will help but you will still be left with a huge debt after a serious disaster.

Most Fifth By Northwest policies, when it comes to renters insurance in Ohio, will have limits in place for each category as well as each subcategory. What this means is that you may have a $30,000 limit on contents protection as well as sub limits of each separate category. You may only be able to claim $3,000 per item. If you have an item that is worth more than this, such as wedding rings or an expensive stereo system, then you may wish to take out more coverage on this particular item. This is something that you can easily do but will need to review the Columbus policies and add on this coverage when comparing Fifth By Northwest renters insurance.

Another thing you should consider when looking into Fifth By Northwest renters insurance is whether you want to insure with OH replacement or actual value coverage. A basic Ohio renters insurance policy will be an actual value policy which means you will get what your items are worth. If you bought a stereo ten years ago then the actual value may be next to nothing now as it would be considered outdated. This can pose a problem if you need to replace all your items.

Replacement value offers you a more suitable price for your older items. You may get $500 to replace your television which is what it may have cost 10 years ago. This means you can still afford a decent television on your claim settlement without having to spend a lot of money on out of pocket expenses. Replacement value is going to be a little more expensive but for some renters in Fifth By Northwest, it is worth it.

Deductibles and Premiums OH

The deductible that you will pay is also an important aspect of your Fifth By Northwest renters insurance. The amount you choose should be high enough that you can get a bit of a discount on your policy but it shouldn't be so much that you cannot afford to pay it if you do need to make a claim. Finding the right balance between the two can be tricky. For some renters in Fifth By Northwest, you may be happy with a $500 deductible while other renters in Fifth By Northwest may be better off with a $100 deductible or even a $1500 deductible.

When you are looking into Fifth By Northwest renters insurance another thing you should consider is getting loss of use coverage. This pays for additional expenses if your rental property is destroyed and you need to find a new place to live. This can happen in a number of different instances such as in the event of a fire, in the event of a serious injury or crime, in the event of a natural disaster. It may even happen if there is major structural damage to the property such as a leaking roof or flooded floorboards.

When you need to move in a hurry it can cost a lot. You will need to pay for the moving van as well as need to find a new place to live in Columbus. Loss of use coverage pays for these unexpected costs.

However, like all renters insurance policies in Ohio, there are also limits in place for how much you can claim on loss of use coverage. Be sure to review these limits so you know what to expect if this ever does happen to you and your Fifth By Northwest home. The best way to be prepared is to know exactly what your Fifth By Northwest renters insurance policy entails and what your OH provider is providing for you.