MAINE RENTERS INSURANCE
Maine renters insurance is one of the most financially sensible investments that an individual can undertake. For almost the same price as a movie ticket, you can purchase renters insurance coverage for all of the possessions in your home. The National Association of Insurance Commissioners estimated that the average price for twelve months worth of Maine renters insurance in 2006 was $145. These are among some of the lowest rates in the country for renters insurance. This totals out to a cost of $12.08 a month. By comparison, a consumer would spend this amount of money to purchase a new CD. Regardless of the type of residence your home may be, whether it is an apartment, condominium, or a house, this small monetary amount can provide you with approximately $20,000 worth of tenants coverage.
You would be surprised at the number of renters in the United States that do not purchase tenants coverage. The NAIC estimates that this number may be as high as 75 percent. Only you can determine if you believe that your possessions are valuable enough to warrant this coverage. However, the cost is relatively inexpensive for the peace of mind that it can afford you. Maine renters insurance is a bargain in the amount of tenants insurance coverage it provides for the low cost of your premiums.
Why You Should Purchase Maine Renters Insurance
Think about all of the items that are stored in your condo or townhome. Think about your electrical equipment, your furniture, and your other belongings. If you were to lose these suddenly, would you have the money to replace them readily available? For most of us, the answer is no. The combined cost of replacing these items could potentially cost you thousands of dollars, despite whether the items were new or second hand.
Often college students assume that they do not need Maine renters insurance because they live in a dormitory. Senior citizens may believe that because they live in an assisted living community in the state. A young family may believe that their children's toys are not valuable enough to warrant the purchasing of Maine renters insurance. Although renter's coverage is not required by law in Maine, common sense would reason that it is an invaluable commodity.
It is a common mistake by renters in Maine to assume that their landlord's policy will cover their belongings in the event of a disaster. However, a landlord's policy's coverage is directed only towards the building's structure, not the content of your possessions. Your belongings will only be covered by a landlord's policy if it can be proven that the loss was incurred by negligence on the part of the landlord. Proving this beyond a reasonable doubt can be difficult in court.
How to Go About Obtaining Maine Renters Insurance
As it has been proven, Maine renters insurance is infinitely valuable. The process for obtaining coverage in Maine is fairly straightforward. Our website offers a price comparison tool that will allow you to view the providers for renters in your community. Many nationwide companies that offer homeowner's coverage or car coverage will also offer tenants coverage. After entering your zip code, you will be asked to answer a few brief questions about your needs as a tenant. Then, you will quickly have your Maine renters insurance quote.
Maine renters insurance will typically offer you protection in twenty different types of scenarios that loss can occur under. Such scenarios include vandalism, fire damage, hail damage, smoke damage, etc. However, most renters policies in Maine will not extend coverage to you in the event of an earthquake or flood. Earthquakes are not generally considered to be a problem in Maine. However, according to your location in Maine, flooding may be of concern to you. If it is, you can purchase flood protection from the federal government. It is important that you familiarize the scenarios that you coverage includes or excludes. If you have any additional concerns, you can inquire with your agent about the possibility of adding a rider to your policy.
Many people wonder how much renters insurance costs. It is typically very affordable. If you are concerned about the price of your Maine renters insurance, there are several actions that you can engage in to reduce your premiums. You may want to discuss with your landlord the possibility of installing an alarm system in your home. Window bars or purchasing a guard dog may be other options available to you. It is wise to maintain fire extinguishers in your home and to have an escape route clearly marked in the event of a fire. Maine renters insurance providers tend to favorably view consumers who are actively seeking to protect themselves and their possessions.
Another method for obtaining a discount on your coverage in Maine may be to bundle your renters policy with your car coverage or health coverage. There are many providers who will offer a multi policy discount to those who consolidate their coverage needs with one company.
After you have completed your research on your Maine renters insurance quotes, you will be able to clearly tell that different companies quote you different rates on your premiums. This is due to the fact that companies have different definitions of what risk is and to the differing criteria each one has when it comes to qualifying for discounts. After you have narrowed your selection of companies down to a few, make it a point to inquire with each company what discounts they offer and if you qualify or not. This can potentially reduce your already low rates for Maine renters insurance even further.
One factor that heavily influences the tenants coverage premiums you will pay in Maine is your location. This factor you can measure some amount of control over. From the zip code you provide when receiving your online quote, a company will pull the crime rates for the neighborhood or community. The crime rates serve as an indicator to the company of how likely you may be to be victimized by a crime, such as theft or vandalism.
After you have located a neighborhood that piques your interest, you should go about researching the comprehensive loss underwriting exchange report for that specific address. This report allows the consumer to review the claims that have been filed at this address. A company can also view this information. It is quite likely that the more claims that have been filed at an address, the higher your renters insurance premiums will be. This is a valuable, little known asset to consumers shopping for Maine renters insurance. You can find affordable renters insurance.
Besides researching the history of your potential new residence, you should also conduct a little research about the insurance company you intend to conduct business with before you sign your contract. You can do so by contacting the Maine Department of Insurance or contacting your local branch of the Better Business Bureau. This will allow you to review a history of complaints or court actions filed against your insurance provider and how they were resolved. You are giving your trust to a company, and it is prudent for you to make certain that they are worthy of that trust.
So what are you waiting for? Compare cost and coverage details from the Maine cities of: Portland, Augusta, Waterville, Bangor, Lewiston, Auburn, Rockland and more...